The agreement will expand MoneyGram’s presence in Portugal. MoneyGram’s services enable customers in Portugal to send and receive funds both domestically and internationally.
According to the Portuguese Immigration Observatory, the number of Portuguese immigrants increased to almost three million, with destinations including Angola, France, Brazil and Switzerland. According to Bank of Portugal’s latest figures, the country has received about USD 3 billion and sent almost more than USD 500 million in 2012.
In recent news, MoneyGram has closed an agreement with DeviceFidelity, a mobile platform company, to become the exclusive money transfer provider for DeviceFidelity’s moneto mobile financial service offering.
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