MoneyGram Payment Systems, the global money transfer service, said it has signed a three-year agreement with MCI to sell prepaid long-distance calling cards under the MoneyGram brand.

The MoneyGram Phone Card is being sold through thousands of participating U.S. MoneyGram agents. MCI will provide a range of services, including network transmission, software, and customer support.

Initially, the cards are available in denominations of $5, $10, $20, and $50.

The higher the denomination of the card, the lower the cost per calling unit.

MoneyGram was spun off last December by First Data Corp. as a condition of the latter's merger with First Financial Management Corp.

Resource BancsharesSpins Off Processor

COLUMBIA, S.C.-Resource Processing Group announced it has been spun off from Resource Bancshares.

Resource Processing Group, which recently changed its name from Republic Services, is an electronic commerce transaction processing company.

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