MoneyGram International and Ceridian Stored Value Solutions Announce Relationship for Processing Global Prepaid Money Transfers

by Mercator Advisory Group 0

MoneyGram has announced it will introduce an in-lane remittance product that will expand its services to “non-traditional money transfer channels including retail, petroleum and convenience stores” in 2011. The press release announces that Ceridian Stored Value Solution has been selected to enable this in-lane money transfer service and that it will “be offered in multiple denominations in local currency and expects it to be available in stores by first quarter 2011.”

MoneyGram intends for this prepaid money transfer product to expand MoneyGram’s money transfer service offerings into non-traditional money transfer channels including retail, petroleum and convenience stores. It also provides an alternative product and revenue channel for the company’s agents worldwide

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Read press release:

http://www.businesswire.com/news/home/20101018005336/en/MoneyGram-International-Ceridian-Stored-Solutions-Announce-Relationship