MoneyGram and First National Bank Launch Mobile Money Transfer Service in South Africa

  MoneyGram and First National Bank Launch Mobile Money Transfer Service in
  South Africa

             New mobile offering is Africa’s first for MoneyGram

Business Wire

JOHANNESBURG -- April 9, 2013

MoneyGram (NYSE: MGI), a leading global money transfer company, and First
National Bank (FNB), one of the largest banks in South Africa, have launched
their first mobile money transfer service in Africa, giving FNB account
holders throughout South Africa provinces the convenient option for sending
and receiving international money transfers using their mobile devices.

The service features an advanced data encryption system that protects account
holder information. Transactions sent from a mobile device are available for
collection within 10 minutes, subject to an agent’s hours of operation and
local laws and regulations.

“In less than a year into our relationship with FNB, we have extended our
product services to offer a mobile service in Africa,” said Carl Scheible,
MoneyGram executive vice president for Africa and Europe. “This additionally
supports our vision of driving convenience and accessibility for our
customers. We are committed to using mobile technology that complements and
augments our traditional agent locations, both in South Africa and other parts
of the world. We believe that with an array of alternative channels in hand,
we will cater to the specific needs of a discerning and burgeoning market. Our
mobile offering with FNB is yet another option for customers in South Africa
to send and receive money.”

According to Jacques Celliers, chief executive officer of business banking at
FNB, “Our relationship with MoneyGram has enhanced the customer experience by
making it easier and more affordable for FNB customers in both customer facing
and electronic channels to send money abroad.”

Last year, MoneyGram announced an agreement with First National Bank that
significantly increased MoneyGram’s agent network in South Africa. The
relationship solidifies MoneyGram’s growing position in South Africa and makes
it one of the largest money transfer companies in the region. Adding FNB to
its agent network means customers have an additional nearly 1,000 MoneyGram
money transfer locations across South Africa from which to send and receive
money.

MoneyGram reported strong fourth quarter and full year 2012 performance from
its online, kiosk and mobile alliances, including online transaction growth of
58 percent with revenue growth of 23 percent, both of which accelerated
greatly from the third quarter.

According to the World Bank, South Africa is the third largest recipient of
African migrants in the world, estimated at 1.8 million people. Close to
900,000 South Africans living abroad send money back to their families. Almost
50% of all remittance users remit funds once a month.

About MoneyGram

MoneyGram, a leading money transfer company, enables consumers who are not
fully served by traditional financial institutions to meet their financial
needs. MoneyGram offers bill payment services in the United States and Canada
and money transfer services worldwide through a global network of more than
310,000 agent locations – including retailers, international post offices and
financial institutions – in 197 countries and territories. To learn more about
money transfer or bill payment at an agent location or online, please visit
moneygram.com or connect with us on Facebook.

Contact:

MoneyGram
Sophia Stoller / Mike Gutierrez, 214-303-9923
media@moneygram.com
 
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