MoneyGram has announced that it has acquired MTI Money Transfer Limited to offer MoneyGram services across Europe.
MTI has a network of more than 500 agents and it will provide MoneyGram’s service to them. MTI network of agents are based in a number of locations, they include: UK, Republic of Ireland, Norway, Sweden, Denmark, Czech Republic and Finland.
This acquisition enables MoneyGram to grow in key European markets and also further strengthen its direct retail network and sales force.
“We are very excited about our acquisition of MTI,” said Carl-Olav Scheible, MoneyGram’s Executive Vice President of Europe and Africa. “This acquisition will enable MoneyGram to further accelerate its position in the European retail market. Direct control of the MTI network and sales force brings us one step closer to the consumer and allows us to more consistently bring our innovative services to all those who depend on it on a daily, weekly or monthly basis.”
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