MoneyGram Payment Systems, Inc., and Elektra have agreed to provide the
MoneyGram wire transfer service for the consumer electronic retailer’s 21
superstores in the Dominican Republic. MoneyGram’s subsidiary, MoneyGram of
York, LLC, was instrumental in securing this contract.
According to Gene Schott, president of MoneyGram New York, LLC, the multi-year
agreement provides a significant corridor for consumers sending or receiving
funds to or from the Dominican Republic.
“In our experience, the vast majority of money wire transactions for MoneyGram
of New York consumers center around the Dominican Republic corridor,” he said.
“Elektra’s excellent reputation and coverage of stores throughout the country
provide our customers with an additional level of service.”
He said customers in the Dominican Republic can pick up funds in any Elektra
location in as little as 10 minutes following the transfer from any of the
37,000 MoneyGram agent locations in more than 150 countries around the globe.
MoneyGram transfers are used world wide by people without traditional banking
relationships, expatriates who send money to their home country, traditional
bank customers in need of emergency funds, tourists without local bank
and business services that need rapid and economical wire transfer services.
MoneyGram Payment Systems, Inc., a subsidiary of Travelers Express Company, is
a leading money transfer services company. Travelers Express is a
Viad Corp (NYSEVVI) and provides payment services in the financial, retail
money transfer areas.