MoneyGram hits milestone of 310,000 agents

MoneyGram, a leading global money transfer company, now has a global network of more than 310,000 agent locations, following a year of significant network and channel growth.
MoneyGram recently reported money transfer fee and other revenue constant currency growth of 13 percent and transaction growth of 14 percent growth for the fourth quarter and full year 2012.
This strong growth over the last several years has been fueled by a growing agent network.
During the past 30 months, MoneyGram has added 100,000 agent locations.
Since 2007, MoneyGram has more than doubled its network.
In 2012, MoneyGram added more than 43,000 agent locations.
In 2012, MoneyGram post office agent relationships grew to nearly 30 globally.
Grant Lines, MoneyGram’s senior vice president of Asia Pacific and Middle East, said: “Our teams have done a fantastic job of meeting consumer needs in this region by focusing on the particular service elements required in each country, versus adopting a one-size fits all approach.”
MoneyGram continues to grow at a fast pace in the Middle East.
In addition to working with well established agents such as NCB, NBAD, Al-Rostamani, Al-Ahalia, BEC and BFC, MoneyGram also recently launched its relationship with Qtel, Qatar’s leading mobile operator, to offer international mobile money transfer services.
Transaction growth in South Asia was also robust with network strength crossing 51,000 locations.
MoneyGram services are available in India at India Post, Thomas Cook, UAE Exchange, Supreme Securities and State Bank of India.
MoneyGram also works with large banks and financial institutions in Bangladesh, Sri Lanka, Nepal and Maldives.
In Pakistan, the MoneyGram brand is highly recognized and its agents include Bank Al Falah, Wall Street Exchange, Soneri bank, Bank Al Habib and MCB Bank Limited, among many others.The network in Pakistan grew by 30 percent in just six months in 2012.