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The mobile-centric consumer lender is turning to MoneyGram's vast retail network in an effort to reach borrowers who prefer to use cash. The partnership applies to borrowers in 15 states, but LendUp hopes to partner with a bank to take its service nationwide.
August 11 -
Wal-Mart's new "Walmart-2-Walmart" transfer service will enable consumers to send money to each other by using the retail chain's store network.
April 17 -
MoneyGram International has set aside $100 million for victims of consumer fraud scams as part of an effort to settle an investigation by the Justice Department and U.S. Attorney's Office for the Middle District of Pennsylvania.
November 9
MoneyGram is offering a technology platform that enables banks and retailers to offer alternative financial services beyond just money transfers and bill payments.
The company calls the MGiAlloy platform a "one-stop-shop" experience in which consumers can transfer money, pay bills, cash checks, and load prepaid cards at kiosks, online, through a mobile device, or at point-of-sale terminals.
Retailers including H&R Block Financial Services, some CVS stores, hundreds of bank branches, and Tesco in the United Kingdom are currently using this integrated product, according to a Monday press release.
"Today's competitive environment in financial services challenges businesses to establish long-term relationships with customers who want quick and convenient ways to manage their money," Peter Ohser, MoneyGram's executive vice president for the United States and Canada, said in the release. "With MGiAlloy, financial institutions, retailers and mobile network operators can more efficiently attract and retain consumers who depend on alternative financial services for money management."
In September,