News and Views
MoneyGram and the UK Post Office Mark 10 Millionth Money Transfer
MoneyGram International (NYSE: MGI), a leading global money transfer company, and the United Kingdom’s Post Office are celebrating their long-standing and successful relationship as the two companies marked the 10 millionth money transfer transaction with a media event at the Claridges Hotel today. The Post Office, which serves almost 20 million people a week, has been a MoneyGram agent since 1997 and provides MoneyGram money transfer services in its almost 12,000 Post Office branches across the UK.
Pamela H. Patsley, MoneyGram’s chairman and CEO, who is in London to commemorate the occasion, commented, “This is a significant milestone for both MoneyGram and the United Kingdom’s Post Office for two reasons. First, we can proudly claim a 14-year working relationship with one company – a rarity in today’s business world. Second, 10 million transactions conducted is a testament to the Post Office and MoneyGram together meeting the needs of consumers who want convenient, reliable and fast money transfer services.”
According to the World Bank, while the UK is home to almost seven million immigrants, it is a money transfer send and receive country. An estimated $7 billion in remittances came into the country and $3.67 billion flowed out of the country in 2009. As remittances align with the immigration patterns, key money transfer corridors are: India, Poland, Pakistan, Ireland, Germany, South Africa, Bangladesh, the United States, Jamaica and Kenya.
“Ninety percent of people in the UK live within one mile of a Post Office branch. We offer unrivalled convenience and access to services that our customers need and rely on – whether it is sending or receiving money, posting a parcel or paying a bill,” said Martin Moran, Post Office commercial and marketing director. “Our partnership with MoneyGram is truly a successful one for our business and our people, as well as for the customers we serve. We are proud to celebrate the 10 millionth transaction.”
Patsley along with other MoneyGram executives, Nigel Lee, executive vice president of EMEAAP and Roger Heinz, vice president, northern and central Europe and Mark Perryman, senior regional director UK, Ireland and the Nordics, hosted a celebration and press conference today recognizing the Post Office. Martin Moran and the subpostmaster who made the landmark transaction, amongst others from the Post Office, were in attendance.
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