Consumers now may purchase and make prepaid funds transfers at various United States-based merchants through an agreement between MoneyGram International Inc. and InComm Inc., Dallas-based MoneyGram announced April 27.
“Prepaid money transfers allow consumers to pay for the transfer amount and fees at the same time as they make other retail purchases and then actually make the transfer when convenient for them either online or by phone,” MoneyGram vice president of product management Stu Kiefer said in a news release regarding the pact.
Under the agreement, Atlanta-based InComm will help MoneyGram with the distribution and activation of MoneyGram Xpress packages, which will be located in InComm’s in-lane card suite display and may be purchased at the register, MoneyGram said in the release.
The packages come in $50, $100 and $200 denominations and may be found at more than in more than 250,000 U.S. retail locations including grocery and convenience stores, pharmacies and large merchants.
Consumers redeem and complete the money transfer either online or over the phone and may transfer funds within the U.S. and internationally.
MoneyGram plans to eventually launch the product in 40 countries including Canada, Hong Kong, Russia and the United Kingdom.
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