MoneyGram Payment Systems, Inc., a leading provider of consumer money transfers, has been selected as the exclusive money transfer affiliate of Poste Italiane, the Italian Post Office.
“The agreement with Poste Italiane includes up to 14,000 of its locations throughout the country, making it the second largest postal organization in Europe (after the UK) to select MoneyGram to provide money transfer services,” according to Philip W. Milne, president and chief executive officer of Travelers Express/MoneyGram.
“This marks a significant step in MoneyGram’s European expansion strategy,” said Milne. “Our international agent base has grown dramatically over the past year making our network stronger than ever.” Poste Italiane will initially install the MoneyGram service in approximately 1,200 of its locations, with expansion expected into additional locations later in 2001.
MoneyGram had 37,000 locations in more than 150 countries around the world as of Dec. 31, 2000.
MoneyGram wire transfers are used by people without traditional banking relationships, expatriates who send money to their home country, traditional bank customers in need of emergency money transfer services, tourists without local bank accounts and businesses that need rapid and economical wire transfer services.
“Adding new agents like Poste Italiane ensures that MoneyGram customers have an even broader range of options to safely, quickly and reliably both send and receive money around the globe,” said Milne.
MoneyGram Payment Systems, Inc., is a subsidiary of Travelers Express Company. Travelers Express is a subsidiary of Viad Corp (NYSE:VVI) and provides payment services in the financial, retail and money transfer areas.
To find a MoneyGram agent, go to [www.moneygram.com]. For more information on Travelers Express go to [www.temgweb.com] or for Viad Corp, [www.viad.com].