MoneyGram Payment Systems, Inc., and Elektra have agreed to provide the MoneyGram wire transfer service for the consumer electronic retailer’s 21 superstores in the Dominican Republic. MoneyGram’s subsidiary, MoneyGram of New York, LLC, was instrumental in securing this contract.
According to Gene Schott, president of MoneyGram New York, LLC, the multi-year agreement provides a significant corridor for consumers sending or receiving funds to or from the Dominican Republic.
“In our experience, the vast majority of money wire transactions for MoneyGram of New York consumers center around the Dominican Republic corridor,” he said. “Elektra’s excellent reputation and coverage of stores throughout the country provide our customers with an additional level of service.” He said customers in the Dominican Republic can pick up funds in any Elektra location in as little as 10 minutes following the transfer from any of the 37,000 MoneyGram agent locations in more than 150 countries around the globe. MoneyGram transfers are used world wide by people without traditional banking relationships, expatriates who send money to their home country, traditional bank customers in need of emergency funds, tourists without local bank accounts and business services that need rapid and economical wire transfer services. MoneyGram Payment Systems, Inc., a subsidiary of Travelers Express Company, is a leading money transfer services company. Travelers Express is a subsidiary of Viad Corp (NYSE:VVI) and provides payment services in the financial, retail and money transfer areas.
To find a MoneyGram agent or more information on Travelers Express go to [www.temgweb.com].