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September 05, 2015 11:29 AM ET

Consumer Finance

Company Overview of MoneyGram Payment Systems, Inc.

Company Overview

MoneyGram Payment Systems, Inc. provides money wire transfer services. It also provides an express bill payment service through its agent locations in the United States. The company was founded in 1988 and is based in Lakewood, Colorado. MoneyGram Payment Systems, Inc. operates as a subsidiary of Moneygram International Inc.

7401 West Mansfield Avenue

Lakewood, CO 80235

United States

Founded in 1988

720 Employees





Key Executives for MoneyGram Payment Systems, Inc.

Executive Vice President, Director and General Manager - International
Age: 63
Compensation as of Fiscal Year 2015.

MoneyGram Payment Systems, Inc. Key Developments

UnionPay International and MoneyGram Declare Global Cooperation Offer Cross-Border Remittance Service in and Outside China

UnionPay International and MoneyGram jointly declared global cooperation offer cross-border remittance service in and outside China, extending cross-border remittance service of UnionPay Card to more than 200 countries and territories. Service will be first available in Singapore, Japan, Australia and US, where remitters will be able to remit money through outlets of MoneyGram to UnionPay Card holders in China, with remittance upper limit reaching USD 3000. Service will be available in other market in 2015.

MoneyGram Plans to Close its 376-Person Brooklyn Park Facility and Lay Off 28 Workers at the End of June

MoneyGram plans to close its 376-person Brooklyn Park facility three years after moving its headquarters from the Twin Cities to Texas. The company will lay off 28 workers at the end of June and continue cutting until it closes the facility on December 31, 2015.

MoneyGram Payment Service to Lay Off at Least 28 Employees as it Closes its Facility in Brooklyn Center

MoneyGram Payment Services will lay off at least 28 employees as it closes its facility in Brooklyn Center. The company's Brooklyn Center facility employs 376 people, all of which will be laid off or relocated, the letter said. The company will continue to operate its St. Louis Park facility. The first round of 28 layoffs is expected June 30, with subsequent reductions in force to follow, leading up to the facility's closure on December 31, 2015.

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