MoneyGram (MoneyGram International Incorporated) is known all over the world as one of the leading companies providing global payment services. Its headquarters are situated in Dallas, Texas. It is the 2nd largest money transfer brand on the world market and MoneyGram locations can be found in about two hundred countries, regions and territories.
MoneyGram offers its clients convenient and trustworthy payment services. The company’s business can be divided into two separate categories. The first one is global funds transfer, and the second one is financial paper products.
Global funds transfer category includes money transfers (sending and receiving money through the global network of agents), bill payment services (making urgent payments), and rent payments (paying routine bills).
Financial paper products, offered by MoneyGram, include official checks (providing official checks which can be used private consumers and financial institutions) and money orders (acquiring money orders at the network of financial and retail MoneyGram locations).
Landmarks in the History of MoneyGram
MoneyGram came into existence after the two companies, Travelers Express and Integrated Payment Systems, merged into one large corporation. It means that the history of MoneyGram started from foundations of these companies.
- 1940 – Travelers Express Inc. enters money transfer business in Minneapolis, Minnesota. Soon it becomes the major brand in electronic payments area and the largest provider of money orders.
- 1988 – MoneyGram Payment Systems Inc is founded in Denver, Colorado.
- 1998 – MoneyGram Payment System and Travelers Express are merged into one group after Viad, parent company of Travelers Express, acquires Payment Systems.
- 2004 – The group of the two companies is reorganized into MoneyGram International Incorporated, a publicly traded company.
- 2006 – MoneyGram’s revenue is one billion dollar.
- 2007 – 2009 – MoneyGram Inc. loses over .6 billion and its shares fall 96%. The company has to sell the controlling interest to Goldman Sachs and Thomas H. Lee Partners in place of funds infusion.
- 2009 – MoneyGram becomes profitable again with .17 billion in revenues. It sends over eighteen billion dollars around the world during the year.
- 2010 – The company moves its headquarters to Dallas, Texas. The Global Operations Center still remains in Minneapolis, and Call Center Operations are in Denver, Colorado.
- 2011 – MoneyGram makes .25 billion in revenues.
Nowadays the company has over 275,000 MoneyGram locations in approximately two hundreds countries. In the United States, it owns fifteen retail departments (one in Miami and fourteen in New York City). In Western Europe, MoneyGram has more than seventy locations in Germany, France and other countries.
MoneyGram has about 2,600 regular employees all over the world.
Thomas H. Lee Partners owns 53% of majority stake, and 29% belong to Goldman Sachs (82% in general).
Facts about MoneyGram
Here is a couple of interesting facts about MoneyGram Inc.
- MoneyGram owns more locations (over two times) than Walmart, Starbucks and McDonalds together.
- Website and contact centers of MoneyGram support twenty three languages.
MoneyGram has a very convenient and informative website providing a great number of online services. It has a user-friendly MoneyGram locator. If you want to find the company’s nearest office you have to enter your postal code, country, city or address and you will get the detailed information about MoneyGram locations which can be found not far from your place.