MoneyGram International and Fiserv, Inc., agreed to add MoneyGram’s money transfer services to the menu of money movement options available to financial institutions and consumers through the Popmoney from Fiserv person-to-person payments product.

Upon integration, the 1,400 financial institutions that currently are part of the Popmoney network will have the opportunity to offer customers the ability to send money through MoneyGram’s global network, which spans more than 267,000 locations in 192 countries and territories. Consumers receiving money via Popmoney will also have the option to receive cash payments in person at any MoneyGram agent location.

"This relationship provides MoneyGram with access to a wide number of financial institutions that have existing relationships with Fiserv, expanding our reach in an easily scalable way," says Tim Summers, MoneyGram global head of strategic partnerships.

"Working with MoneyGram will allow Fiserv to enhance the Popmoney service with cross-border and cash payment options, and expand consumer choices for managing their money," says Neil Platt, senior vice-president and general manager of payments, CashEdge Division, Fiserv.

Popmoney enables bank customers to request, send, and receive electronic payments using their existing bank account. Consumers only need the recipient's email address, mobile phone number or bank account information to send money.

 

 

[This article was posted on March 27, 2012, on the website of ABA Banking Journal, www.ababj.com.]      

TrackBack URI for this entry