MoneyGram and Grupo Elektra Reach Agreement for Money Transfers in Mexico

MoneyGram International MGI and Grupo Elektra, S.A.B. de C.V, Latin America's leading financial services company and specialty retailer, announced today that the companies have entered into a multi-year money transfer agreement in Mexico, adding Grupo Elektra's more than 1,800 locations and points of sale to MoneyGram's local network. MoneyGram's services were immediately rolled-out at the Mexico locations and are available now. MoneyGram and Grupo Elektra already offer money transfer services together in five other countries throughout Latin America. The addition of Mexico builds on this strong relationship and strengthens MoneyGram's position in the U.S.-to-Mexico market, increasing the company's network in Mexico by more than 10 percent.