MoneyGram (MGI), a leading global money transfer company, today announced it successfully renewed its agreement with India Post, the largest postal network in the world.
MoneyGram launched the service with India Post in September 2011 at 100 India Post locations. Since then, that number has grown to include 2,500 India Post locations offering MoneyGram's money transfer service.
According to Pamela H. Patsley, MoneyGram chairman and chief executive officer, extensions and renewals are as important as new signings to the base business. "Retaining and extending existing agent relationships are directly related to our continued success, customer focus and revenue-building initiatives of MoneyGram," said Patsley. "We are also looking forward to further expanding and increasing India Post locations in the coming years to offer convenience to our customers, and offering the added trust associated with India Post and MoneyGram."
MoneyGram's growth strategy includes aligning with post offices, among other types of agents, providing consumers with convenient access to reliable and affordable money transfer service close to where they live and work. Currently, MoneyGram has nearly 30 postal relationships globally in countries such as the United Kingdom, Canada and Italy with plans to expand further in the coming years.