Partnerships / Acquisitions

MoneyGram Partners With Canada Post For Digital Money Transfers

MoneyGram Partners With Canada Post For Digital Money Transfers

MoneyGram and Canada Post have teamed up for a digital money transfer service that allows users to complete transactions at select Canada Post locations all over the country, according to a release.

“To initiate a transaction, consumers simply visit, create a profile, start a transaction and choose the 'Cash at a Location' option,” the release said. “From there, users visit one of Canada Post's more than 5,200 locations that offer MoneyGram services to complete their transaction. For added convenience and security, consumers can use the provided barcode, which contains their transaction details.”

Grant Lines, MoneyGram chief revenue officer, said MoneyGram is always trying to make it easier for people to use the service.

"We are constantly exploring how to make money transactions simpler and more convenient to meet the expectations of our consumers," he said. "Working with Canada Post, we are able to provide more choices for consumers to send money how they want and when they want, across our reliable and secure network."

John Reis, Canada Post general manager, retail, said the partnership is good for both companies.

"We are excited to be the exclusive partner for MoneyGram on this new initiative," Reis said. "Our money transfer operation is rooted in the belief that the ability to reliably send money should be as inclusive as possible. And now, along with MoneyGram, we are able to add to our digital portfolio of money transfer services, in the most convenient way possible for our customers."

Canada Post is the No. 1 parcel company in Canada, delivering nearly two out of every three boxes that are ordered online in the country. Canada Post also reaches 16.2 million addresses. MoneyGram is available for money transfers in more than 200 countries and territories around the world, and is an industry leader in the protection of customers.



About: Accelerating The Real-Time Payments Demand Curve:What Banks Need To Know About What Consumers Want And Need, PYMNTS  examines consumers’ understanding of real-time payments and the methods they use for different types of payments. The report explores consumers’ interest in real-time payments and their willingness to switch to financial institutions that offer such capabilities.