MoneyGram Announces New Agent Agreement With Payzone Romania

MoneyGram (NASDAQ:MGI), a leading global money transfer company, and Payzone Romania, one of the largest payment services operators in the local market, have signed an agreement to offer money transfer services throughout the country, the company announced today.

Payzone Romania offers a wide range of payment services and electronic recharge services, operating the largest electronic payments network with cash from Romania from its more than 11,000 terminals all over the country.

The agreement between Payzone Romania and MoneyGram provides a cost efficient solution for consumers who do not have or use a bank account or credit card to transfer funds. Funds can be received in Payzone locations during operating hours, which may include evenings and weekends.

Commenting on the new alliance, Cristina Constantin, general manager, Payzone Romania, said, “This collaboration brings added value for both our company and MoneyGram, but, more importantly, for all our customers. Together we can bring fast and reliable financial services and solutions to Romanian customers.”

“This new agreement brings us closer to our customers and makes it easier for us to deliver convenient money transfer services for them. We are committed to expanding our agent network in the local market and our plans to increase locations by the end of the year demonstrates that commitment,” said Radu Pojoga, MoneyGram country manager, Romania and Bulgaria.

Money transfer services are now available to consumers at several hundred Payzone locations, and the agreement includes continued expansion, with MoneyGram services expected to be offered in more locations by the end of the year.

About MoneyGram

MoneyGram International, a leading money transfer company, enables consumers who are not fully served by traditional financial institutions to meet their financial needs. MoneyGram offers money transfer services worldwide through a global network of 327,000 agent locations -- including retailers, international post offices and financial institutions -- in 198 countries and territories. MoneyGram also offers bill payment services in the United States and Canada. MoneyGram is listed on the NASDAQ Stock Exchange under the ticker symbol MGI. To learn more about money transfer or bill payment at an agent location or online, please visit moneygram.com or connect with us on Facebook.

About Payzone

Payzone SA is on the Romanian market since 2004. Starting with 2007, Payzone Romania became part of the group PAYZONE that offers a wide range of payment services and electronic recharge in countries such as Ireland, UK, Germany, Sweden, Romania and Greece.

Payzone currently operates the largest electronic payments network with cash from Romania, operating a total of over 11,000 terminals all over the country offering safe and qualitative services for the end users and retail partners.

Payzone Romania offers on Romanian market a broad portfolio of payment services including: prepaid product selling for mobile networks, bill payment collection for services and utilities providers, credit and insurance, sales of prepaid products for Internet payment.

Copyright Business Wire 2010

If you liked this article you might like

3 Names That Could Jump 25% if Big 'What Ifs' Are Answered

3 Names That Could Jump 25% if Big 'What Ifs' Are Answered

Dow Finishes Higher as S&P 500 and Nasdaq Decline

Dow Finishes Higher as S&P 500 and Nasdaq Decline

Alibaba Shares Slump After Q4 Earnings Report, Ant Financial Stake Plans

Alibaba Shares Slump After Q4 Earnings Report, Ant Financial Stake Plans

Bitcoin and Ethereum Investors Run as Regulators Circle

Bitcoin and Ethereum Investors Run as Regulators Circle

Dow 26,000, Citigroup, BP, AT&T - 5 Things You Must Know Before the Market Opens

Dow 26,000, Citigroup, BP, AT&T - 5 Things You Must Know Before the Market Opens