MoneyGram International, Inc. provides money transfer services. The company also provides bill payment services, issue money orders and process official checks in select markets. Its primary customers are persons who might not be fully served by other financial institutions, which it refers to as unbanked or underbanked consumers. The company’s offerings include money transfers, bill payment services, money order services and official check processing. It earns revenue from the fees paid by the consumers sending the funds and from the management of currency exchange spreads on money transfer transactions involving different ‘send’ and ‘receive’ currencies. The company’s money transfer services enable its consumers to send and receive funds around the world through its global network of locations, which are primarily operated by third-party businesses (agents), but also include company-operated retail locations. It also offers digital/self-service solutions, such as moneygram.com, mobile solutions, account deposit and kiosk-based services. The company has one primary customer care center in Warsaw, Poland, with regional support centers providing ancillary services and additional call center services in various countries. Segments The company manages its business primarily through two segments, Global Funds Transfer and Financial Paper Products. Global Funds Transfer segment This segment provides money transfer services and bill payment services primarily to unbanked and underbanked consumers. The company utilizes various proprietary point-of-sale platforms, including AgentConnect, which is integrated into an agent’s point-of-sale system, DeltaWorks and Delta T3, which are separate software and stand-alone device platforms, and moneygram.com. Money Transfer—The company has corridor pricing capabilities that provide it flexibility when establishing consumer fees and foreign exchange rates for its money transfer services. In certain countries, the company has multi-currency technology that allows consumers to choose a currency when initiating or receiving a money transfer. The currency choice typically consists of local currency, U.S. dollars and/or euros. Through its online product offerings, consumers could remit funds from a bank account, credit card or debit card. The company offers transaction-staging kiosks at select agent locations around the world. Through its FormFree service, consumers are directed via phone to one of its customer care centers where a representative collects transaction information and enters it directly into its central data processing system. Its MoneyGram xpress product enables consumers to pay for money transfers at a MoneyGram agent location, and provide the information necessary to complete the money transfer when and where it is convenient for them, via phone or any Internet-enabled device. The company offers money transfer services on the Internet via its moneygram.com service in the U.S., United Kingdom and Germany and through affiliate Websites. Through moneygram.com, consumers have the ability to send money from the convenience of their home or Internet-enabled mobile device to any of its agent locations worldwide through a debit or credit card or, in certain cases, funding with a U.S. checking account. The company offers its money transfer services via virtual agents allowing its consumers to send international transfers conveniently from a Website or their mobile phone in approximately 10 countries. It continues to expand its money transfer services to consumers through the addition of transaction-staging kiosks, ATMs, prepaid cards and direct-to-bank account products in various markets worldwide. As of December 31, 2015, the company's money transfer agent network had approximately 350,000 locations. Its agent network includes agents, such as international post offices, formal and alternative financial institutions as well as large and small retailers. Additionally, it has company-operated retail locations in the U.S. and Western Europe. Bill Payment Services—The company’s primary bill payment service offering is its ExpressPayment service, which it o
moneygram international inc
(MGI:Consolidated Issue Listed on NASDAQ Global Select )
2828 North Harwood Street
Dallas, TX 75201
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