MoneyGram has announced an expansion of its network to more than 31,000 agent locations worldwide after a year of what it calls "significant growth".
The global money transfer company recently reported a 13 per cent growth in fees and other revenue constants, and transaction growth of 14 per cent, for the fourth quarter and full year 2012.
Since 2007, MoneyGram says it has more than doubled its international network of service agents, with 100,000 added in the last two-and-a-half years alone. In Africa, one of its fastest growing markets, the company crossed its 20,000-location milestone in 2012, in addition to significant expansion in the United States.
MoneyGram chair and CEO Pamela Patsley said: “This is an important milestone, but we are not stopping here. MoneyGram’s momentum is reinforced by our strong foundation and having the right talent in place to ensure MoneyGram is the preferred provider for the services we offer consumers.
In 2012 MoneyGram renewed its contract with Walmart in the US, launched mobile money transfer service in Qatar, and announced a global agreement with PayPal that will enable consumers to easily access money in their digital wallets in the physical world.
“Innovation is a priority for us and a driving force in attracting new agents to MoneyGram,” added Patsley.
MoneyGram’s growth strategy also includes aligning with post offices in Bulgaria, India and Iceland - joining previous arrangements in Moldova, Poland Ukraine and the United Kingdom - to provide consumers with convenient access to its services.
