) inked a deal with Chile's portal system, CorreosChile pursuant
to which it will provide money transfer services at above 200
CorreosChile branches all over the country. Taking into account
the new deal, MoneyGram will now consist of 30 postal systems
through which it provides its money transfer services globally.
MoneyGram provides money transfer services in 198 countries and
territories across the globe. It also provides bill payment
services in the United States and Canada. It consists of a global
network of more than 321,000 agent locations which includes
retailers, international post offices and financial institutions.
In association with CorreosChile it now aims at expanding its
services to Chile and cater to the unique requirements of the
The population residing at various Chilean urban and rural
locations were in need of a convenient and affordable option to
send and receive money around the world. Subject to the local
time needed for operations and to fit within regulations,
MoneyGram allows money transfer in as less as 10 minutes. As a
result, the alliance of MoneyGram and CorreosChile will enable
customers at various postal locations in Chile to utilize
MoneyGram's robust and reliable global network to send and
receive money conveniently across various parts of the world.
At present MoneyGram has postal relationships in countries such
as Canada, Jamaica, India, Italy, Morocco, Poland, Ukraine, and
the United Kingdom. MoneyGram engages in a number of strategic
alliances with post offices to widen its global presence and
fortify company growth. To realize this business expansion
objective, MoneyGram entered into a partnership agreement with a
leading bank in Bosnia-Herzegovina and the pan European region -
Intesa San Paolo Bank in May, 2013. Through the deal, MoneyGram
intended to provide international money transfer services at more
than 50 branch locations of the bank across the country.
We expect the partnership with CorreosChile to enhance revenues
of the company through increased client acquisition thereby
bolstering company growth. The Zacks Consensus Estimate for full
year 2013 is currently pegged at $1.20 representing a
year-over-year improvement of 23.71%.
MoneyGram currently carries a Zacks Rank #4 (Sell). Among
others in the industry,
FleetCor Technologies Inc.
) carries a favorable Zacks Rank #1 (Strong Buy) while
Euronet Worldwide Inc.
) carry a Zacks Rank #2 (Buy).
EURONET WORLDWD (EEFT): Free Stock Analysis
FLEETCOR TECH (FLT): Free Stock Analysis
MOODYS CORP (MCO): Free Stock Analysis Report
MONEYGRAM INTL (MGI): Free Stock Analysis
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