MoneyGram and UK Post Office Extend Long-Term Partnership

MoneyGram (NASDAQ:MGI) and Post Office Limited have extended their agreement to provide money transfer services inside thousands of UK Post Office locations through 2021.

“For more than two decades, MoneyGram and UK Post Office have partnered to drive financial inclusion in one of the most diverse regions in the world by offering our customers convenient and reliable financial services,” said Alex Holmes, chairman and chief executive officer at MoneyGram.

“Today’s announcement is a testament to the strength of a shared commitment MoneyGram and the Post Office have to each other and most importantly to our customers. We look forward to continuing our partnership and exploring new opportunities to make money transfers easier.”

“Through our successful 22-year relationship with MoneyGram, we have made sending or receiving money around the world easier for millions of consumers through our branch network,” said Owen Woodley, chief executive, Financial Services & Telecoms at Post Office Limited. He continued, “Our 11,500 branches across the UK, which serve a huge range of communities – from busy urban areas to remote villages – make it easy for MoneyGram customers to access a wide range of services at a time and location that’s convenient for them. Building on this theme, we will now be actively exploring opportunities to also build new digital money transfer opportunities to support the Post Office’s core value in providing our customers with easy access to financial services.”

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The Post Office, which serves over 17 million people a week, has been a MoneyGram agent since 1996, allowing customers to receive money conveniently and send funds directly to more than two billion bank accounts and mobile wallets or, to any MoneyGram location in over 200 countries and territories worldwide.
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