DALLAS, Texas Oct. 16, 2014 (GLOBE NEWSWIRE) -- MoneyGram (NASDAQ: MGI), a leading global money transfer and payment services company, announced today that it has renewed a longstanding contract with one of its largest agents, ACE Cash Express, Inc., an Irving, Texas-based financial services company. The extended seven-year agreement builds on a strong collaboration between the two companies who have strategically worked together for 25 years to provide access to alternative financial services for consumers throughout the U.S. With this renewal, MoneyGram has now secured eight of its top ten agents through the first quarter of 2017 or beyond.
"We are extremely pleased to renew our agreement with ACE Cash Express, which has been an excellent partner in growing our U.S. business. This renewal underscores MoneyGram's dynamic global brand, track record of success in more than 200 countries and territories, and unique approach to serving our agents and consumers," says Pamela H. Patsley, MoneyGram's chairman and chief executive officer. "Our U.S. customers have relied on our services at ACE Cash Express locations for decades, and together, we look forward to building on our shared success. MoneyGram is continually focused on enhancing service delivery, and we value ACE's ability to meet consumer needs for send transactions, cash pickup and bill payment services."
With the agreement, MoneyGram's full suite of services — money transfers, money orders, bill payments — will continue to be offered at more than 1,400 U.S. ACE Cash Express stores.
Consumers can also access MoneyGram's online services through the ACE Cash Express website, where they can connect directly to MoneyGram to transfer funds or pay bills.
"For more than a quarter of a century, ACE Cash Express and MoneyGram have provided convenient financial services to millions of people," said Jay B. Shipowitz, chairman and chief executive officer of ACE Cash Express. "ACE's priority is to provide consumers with access to products and services that will help them meet their financial goals, and we believe that ACE's partnership with MoneyGram continues to be of tremendous value to our customers."
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.
About ACE Cash Express
ACE Cash Express, Inc. is a leading retailer of financial services, including payday loans, installment loans, title loans, check cashing, bill payment, wire transfer, money orders and prepaid debit card services. ACE is the largest owner and operator of check cashing stores in the United States and the second largest owner and operator of short-term consumer loan stores in the United States. ACE focuses on serving consumers, many of whom seek alternatives to traditional banking relationships in order to gain convenient and immediate access to financial services. For additional information about ACE Cash Express, visit www.acecashexpress.com.
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Source:MoneyGram International, Inc.