KUALA LUMPUR, Malaysia, Sept. 18, 2014 (GLOBE NEWSWIRE) -- MoneyGram, (NASDAQ: MGI) a leading global money transfer company, announced today that it has signed an agreement with BFC Exchange Malaysia Sdn. Bhd., one of the fastest growing remittance companies in Malaysia, to offer international money transfer services at branches throughout the country. These additional locations will make MoneyGram's quick and reliable money transfer services more accessible to those who depend on them for life's essentials.
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"Adding BFC Exchange to our network in Malaysia is an important step for us as we continue our focus on investing and expanding in this fast-growing region," said Grant Lines, MoneyGram's executive vice president, Asia Pacific, South Asia and Middle East. "Customers who depend on MoneyGram's services can now access them in both the eastern and western sides of the country."
MoneyGram continues to expand across Asia, reaching more than 50,000 locations in India and renewing key agents in Sri Lanka during the second quarter. In addition, the company has hired several talented leaders in the region with extensive financial services and technology innovation expertise with the goal of accelerating growth through both cash-to-cash and new self-service money transfer channels.
"We are delighted to work with MoneyGram and to enhance our existing product offering with MoneyGram's fast and reliable global money transfer services," said Rajesh Narayanan, Country Head of BFC Exchange. "Our commitment to our customers is to provide trusted and efficient methods for them to send money home to their loved ones around the world and by working with MoneyGram we can expand our global network even further."
To send or receive money in Malaysia, customers can walk into any MoneyGram agent location, complete a simple form and show a photo identification to transfer funds. The funds will be ready to be picked up in as little as 10 minutes, subject to agent operating hours, availability and local regulations, in more than 200 countries and territories.
About MoneyGram International, Inc.
MoneyGram, a leading money transfer company, provides essential services to consumers who are not fully served by traditional financial institutions. MoneyGram offers worldwide money transfer services in more than 200 countries and territories through a global network of 345,000 agent locations, including retailers, international post offices and banks. MoneyGram also offers bill payment services, issues money orders and processes official checks in select markets.
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CONTACT: Media Contact Michelle Buckalew Mbuckalew@moneygram.com 214-979-1418 #moneygramnews
Source:MoneyGram International, Inc.