MoneyGram International, Inc. one of leaders in cash transfers business (inferior only to Western Union), announced adding three new agents to its network in South America. These new agents are: Bancolombia in Colombia (one of leading banks in this country with about 800 branches); Banco de Credito in Peru (one of leading banks in this country with more then 300 branches), and Banco Vision in Paraguay (one of leading banks too, near 100 branches). So, now Moneygram network will have 1103 new agents locations, increasing total amount of service points in South America from 10,200 to 11,305.
“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.” said Dan O’Malley, MoneyGram’s executive vice president of the Americas and Emerging Markets. Good news, maybe they will also expand their presence in other South American countries, because in Ecuador, for example, it’s a big problem to send MG transfer. Hope this will change soon.