MoneyGram International Expands in South America

MoneyGram International, Inc. MGI has added three new agents to its network in South America: Bancolombia in Colombia; Banco de Credito in Peru, and Banco Vision in Paraguay. These leading financial institutions add 1,103 new agent locations to the company's network – and thereby significantly expand MoneyGram's foothold in South America from 10,200 to 11,305 locations. “We are very pleased to welcome each of these new agents to the MoneyGram network. Our growth strategy for this territory is focused and these new relationships play an important part in increasing MoneyGram's market share in this remittance region,” said Dan O'Malley, MoneyGram's executive vice president of the Americas and Emerging Markets. “We believe MoneyGram's fast and reliable service will meet our customers' and agents' expectations and set the standard for remittance service throughout South America.”