Moneygram International Inc : MoneyGram Signs Orange Romania to Agent Network

MoneyGram (NYSE:MGI), a leading global money transfer company, and Orange Romania, Romania’s largest telecommunications operator, have reached an agreement to offer international money transfer services at 100 Orange Romania locations throughout the country, the companies announced today.

The service is a first in the telecommunications industry in Romania, since Orange Romania is the only operator offering an international money transfer service.

The collaboration between Orange Romania and MoneyGram also provides a solution for consumers who do not have or use a bank account or credit card to transfer funds, as they can now use MoneyGram’s money transfer service at all Orange Romania locations. Funds will be received in Lei or Euros, depending on the sender’s option.

Commenting on the new alliance, Julien Ducarroz, chief commercial officer, Orange Romania, said, “The launch of international money transfer services through MoneyGram represents a value added service that Orange shop customers can benefit from. In addition, it reconfirms our desire to invest in services that improve the lives of people. Through this initiative we want to bring customers closer, as we do every day through the telecommunication services that we provide.”

“This new relationship expands MoneyGram’s network and strengthens our position in Romania. Orange Romania is a leader in the Romanian telecommunications market and has a strong reputation among Romanians living abroad,” said Radu Pojoga, MoneyGram country manager, Romania and Bulgaria. “This agreement extends our ability to deliver a highly desired service to our Romanian customers, as well as foreigners, who work or live in our country and need to send or receive money anywhere in the world.”

According to the World Bank, an estimated $3.8 billion in remittances flowed into Romania in 2010. To meet the growing demands for a reliable money transfer service, MoneyGram continues to expand and now has approximately 2,200 locations that offer MoneyGram money transfer services across Romania.

Source: 4-traders

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