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Payments General

MoneyGram extends international money transfer service to Myanmar

Thursday 29 August 2013 | 02:00 PM CET

MoneyGram has entered a strategic alliance with Myanmar-based financial institutions Asia Green Development Bank, Myanmar Citizens Bank and Tun Foundation Bank.

Under the terms of the agreement, MoneyGram is set to extend its international money transfer service to Myanmar.

MoneyGram's initial services in Myanmar allow consumers to receive money through the three financial institutions, which have locations across the country. Myanmar consumers are set to be able to receive funds from approximately 80 countries including Canada, Japan, Malaysia, Singapore, Thailand, United Arab Emirates and the UK. The company's money transfer services are set to be offered in 10 of Myanmar's 14 states.

In recent news, MoneyGram has renewed its official cheque processing agreement with financial institution Mountain America Credit Union.

More: Link
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