Skip to main content

Market Overview

MoneyGram and Bank of South Pacific Sign Agreement


MoneyGram (NASDAQ: MGI), a global provider of innovative money transfer and payment services announces today that the company has reached an agreement with Bank of South Pacific that will enable customers in Samoa and Tonga to receive cross-border remittances.

MoneyGram Logo
"While we continue to see growth in the economies in Samoa and Tonga, many of the citizens are still dependent on remittances from family members from around the world to help with daily expenses," says Michael Minassian, MoneyGram's senior regional director for Australia and Oceania.

"We are happy to continue to meet and service the money transfer needs of our customers with the MoneyGram product," says Paul Thornton, general manager of retail at Bank of South Pacific.

According to the World Bank, more than USD200 million is sent to Samoa and Tonga annually, most of which comes from Australia, New Zealand and the United States.

The new agreement with Bank of South Pacific was completed after the bank purchased the banking operations of Westpac Banking Corporation in several Pacific markets.


Related Articles (MGI)

View Comments and Join the Discussion!

Posted-In: M&A News Press Releases

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at