MoneyGram Signs Agreement With Farmacias Guadalajara

MoneyGram (NASDAQ: MGI), a leading global money transfer company, has formed an alliance with Farmacias Guadalajara, that now allows MoneyGram services to be offered at more than 1,000 of the drugstore chain’s locations around the country.

With this agreement, customers across Mexico are now able to receive funds from friends and family members through MoneyGram’s robust network of agents around the world.

“Mexico is one of the top recipients of remittances in Latin America, and we´re working with Farmacias Guadalajara to meet our consumers’ current and future needs by expanding our services in the country,” said Pedro Saro, vice president Mexico, Latin American and Caribbean at MoneyGram. “This agreement will give consumers throughout Mexico more locations from which to receive the support they need.”

According to the World Bank, Mexico ranks third on the list of worldwide countries that receive the largest amount of inbound transfers, and receives an estimated $22.5 billion yearly from the U.S. alone.

“By aligning with MoneyGram, we are offering our customers the opportunity to receive funds quickly, reliably and conveniently from friends and family around the world,” says María Fernanda García Orozco, finance sub-director and investor relations director at Farmacias Guadalajara. “We expect this service to be very well received by our customers.”

About MoneyGram International

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 nearly 200 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.

Copyright Business Wire 2010

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