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MGI Fortifies Malaysian Operations - Analyst Blog
6/7/2013 2:27:00 PM
The leading global money transfer company,
MoneyGram International Inc.
) joined hands with the Malaysian company TML. TML provides money
transfer solutions through innovative products for remittance
that are designed as per client requirements. The deal aims at
strengthening MoneyGram's footprint in Malyasia by allowing it to
provide its services at TML locations across the nation.
In Malaysia, many people depend on remittances for their daily requirements. The new alliance will expose them to more reasonable and fast money transfer services from a trustworthy and convenient customer service company. Now, these prospective customers can easily transfer funds by visiting any MoneyGram agent location, filling up a simple form and producing photo identification. The funds can be collected in as little as 10 minutes, subject to availability of agents and hours of operation.
Since inception, TML has had an average growth rate of above
30% in number and value of transactions per year. The association
between the two companies and the ensuing growth in TML is
expected to provide a wider platform for MoneyGram to offer its
services in Malaysia.
MoneyGram currently carries a Zacks Rank #4 (Sell). Among others in the industry, FleetCor Technologies Inc. ( FLT ) carries a favorable Zacks Rank #1 (Strong Buy) while Moody's Corp. ( MCO ) and Euronet Worldwide Inc. ( EEFT ) carry a Zacks Rank #2 (Buy).
EURONET WORLDWD (EEFT): Free Stock Analysis Report
FLEETCOR TECH (FLT): Free Stock Analysis Report
MOODYS CORP (MCO): Free Stock Analysis Report
MONEYGRAM INTL (MGI): Free Stock Analysis Report
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