Systems, Inc. announced it will expand its money transfer network
in Brazil dramatically with the addition of more than 2,400 Banco Itau
locations. Banco Itau launched MoneyGram service today.
MoneyGram is a leading provider of money transfer services around the
globe. As a result of the recent agreement with Banco Itau, MoneyGram will now
be able to deliver extensive service throughout Brazil.
“We are excited about this new relationship with Banco Itau,” said Phil
Milne, MoneyGram’s president and chief executive officer. “It’s a name that’s
very trusted across Brazil and it’s an organization that shares our strong
commitment to providing quality customer service. We think Brazilians at home
and abroad will be extremely pleased with MoneyGram’s affordable, reliable and
convenient service through Banco Itau.”
“Today there are nearly 4 million Brazilians living abroad who send money
home to their families in Brazil,” said Paulo R. Soares, senior managing
director. “Certainly their biggest concerns are the cost and reliability of
their money transfer services. Through our new alliance with MoneyGram, we are
able to give them the kind of money transfer service they want and need.”
About Banco Itau
Banco Itau is the largest privately owned bank in Brazil, with more than
nine million customers and $40 billion in assets.
MoneyGram, one of the world’s leading money transfer services, has 68,000
agent locations (excluding Banco Itau) in 160 countries. It is a subsidiary of
Travelers Express Company, Inc., which is a subsidiary of Viad Corp (NYSE:VVI).
For more information or to locate a MoneyGram agent, visit http://www.moneygram.com