MoneyGram innovation to leverage growing prepaid market in the U.S. (MGI)

MoneyGram International MGI, a global leader in the payment services industry, and InComm, a marketer, processor, and distributor of stored-valued gift and prepaid cards, today announced an agreement relating to the MoneyGram® Xpress service, MoneyGram's new in-lane money transfer service available to consumers in the United States. Per the agreement, InComm will assist MoneyGram in the distribution and activation of MoneyGram Xpress packages, which will be available to U.S. consumers in select outlets in InComm's network of more than 225,000 retail locations, including grocery and convenience stores, pharmacies, and mass merchandisers. The MoneyGram Xpress service will initially be offered in $50, $100 and $200 denominations and can be redeemed online or by telephone to complete the transaction. MoneyGram Xpress packages will be available at participating retailers' InComm in-lane card suite and can be purchased at the register. MoneyGram's agreement with InComm reinforces MoneyGram's commitment to enhancing the consumer experience by delivering added convenience and alternatives in accessing and paying for money transfer services.