Bangkok--4 Dec--MoneyGram
MoneyGram (NASDAQ:MGI), a leading global money transfer company, today announces an agreement with Thailand-based Government Savings Bank (GSB) to provide money transfer services in over 1,000 GSB locations across Thailand by the end of 2014. As a result of the agreement, MoneyGram services will be available at nearly 2,000 locations across the country, in all provinces.
A photo accompanying this release is available at http://www.globenewswire.com/newsroom/prs/?pkgid=29452
"Collaborating with Government Savings Bank is an important milestone for MoneyGram as we work to expand across Thailand and provide greater access to affordable money transfer services," said Yogesh Sangle, MoneyGram's senior regional director for Asia. "It more than doubles the number of places for residents to connect with friends and family members in Thailand and makes using our services more convenient."
MoneyGram's agreement with GSB extends the company's network in a key remittance market. According to The World Bank, inbound remittances to Thailand totaled nearly $6 billion in 2013 alone.
GSB is a juristic person and state enterprise, and operates as a financial institution guaranteed by the government under the supervision of the Ministry of Finance. GSB offers a broad range of financial services, including micro-financing to rural and urban customers, and operates in more than 1,000 branches throughout the country.
Michelle Buckalew
214-979-1418
[email protected]
#moneygramnews