Description
MoneyGram International, Inc. is an American money transfer company based in the United States with headquarters in Dallas, Texas. It has an operations center in St. Louis Park, Minnesota and regional and local offices around the world. MoneyGram businesses are divided into two categories: Global Funds Transfers and Financial Paper Products. The company provides its service to individuals and businesses through a network of agents and financial institutions.
In 2014, MoneyGram was the second largest provider of money transfers in the world. The company operates in more than 200 countries and territories with a global network of about 347,000 agent offices.
History
MoneyGram International formed as a result of two businesses merging, Minneapolis-based Travelers Express and Denver-based Integrated Payment Systems Inc. MoneyGram was first established as a subsidiary of Integrated Payment Systems and afterwards became independent company before it was acquired by Travelers in 1998. In 2004, Travelers Express became what is known today as MoneyGram International.
