MoneyGram announced a new global agreement with PayPal that will provide PayPal’s 117 million active account holders with the option to put cash in and take funds out of their PayPal accounts at MoneyGram locations.
“This agreement is a significant milestone for MoneyGram. It represents a new level of innovation and enhances our growth into new areas of the payments industry,” said Pamela H. Patsley, MoneyGram chairman and CEO. “We believe this agreement furthers our goal of making it easy for people to send and receive money in the ways they want, wherever they are in the world, and significantly increases the possibility of e-commerce to MoneyGram consumers.”
MoneyGram’s network currently includes more than 284,000 locations in 196 countries.