moneygram international inc (MGI) Snapshot

moneygram international inc (MGI) Details

MoneyGram International, Inc., through its subsidiaries, provides money transfer and payment services worldwide. The company operates in two segments, Global Funds Transfer and Financial Paper Products. The Global Funds Transfer segment provides money transfer and bill payment services to unbanked or under banked consumers. Its bill payment services allow consumers to make urgent payments, pay routine bills, or load and reload prepaid debit cards to various billers in the credit card, mortgage, auto finance, telecommunications, corrections, satellite, utilities, property management, prepaid card, and collections industries. This segment provides money transfer services through its network of agents, as well as through company-owned retail locations in the United States and Western Europe. It also offers money transfer services on the Internet via its MoneyGram Online service in the United States and the United Kingdom; through agent Web sites in Italy, Saudi Arabia, and Japan, as well as through mobile phones, kiosks, ATMs, payment cards, and direct-to-bank account products. The Financial Paper Products segment provides money orders to consumers through its retail and financial institution agent locations in the United States and Puerto Rico; and offers official check services for financial institutions in the United States. This segment sells its money orders under the MoneyGram brand, as well as on a private label or co-branded basis with retail and financial institution agents in the United States. It also provides official check outsourcing services to financial institutions. The company was founded in 1926 and is headquartered in Dallas, Texas.

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