MoneyGram signs deal with PayPal

PayPal funds via MoneyGram locations

Money transfer company, MoneyGram, has inked a deal with PayPal (view press release). Through the deal, PayPal account holders will be able to put cash in and take funds out of their PayPal accounts at MoneyGram locations. The agreement aims to give those consumers who do not have or use a bank account or credit card to fund and maintain a PayPal account, access to e-commerce. It also provides PayPal customers with a global solution for putting cash into a PayPal accounts, and a global option to fund, withdraw, and send cash from a PayPal account.

These services will be piloted initially in the US early next year, with a full roll out expected thereafter.

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