Thomas Cook Global Foreign Exchange, under the stewardship of John Bavister, launched a re-engineered money transfer service in 1994. View today's stock price, news and analysis for MoneyGram International Inc. (MGI). MoneyGram International, Inc. (together with our subsidiaries, "MoneyGram," the "Company," "we," "us" and "our") is a global leader in cross-border P2P payments and money transfers. The settlement, with attorneys general in 49 states and Washington, D.C., includes $9 million for a nationwide fund that will facilitate the return of money to some MoneyGram customers and $4 million to cover states' costs and fees, according to numerous announcements by state attorneys general. MoneyGram International Inc.’s Net Margin is presently recorded at -0.65. MoneyGram businesses are divided into two categories: Global Funds Transfers and Financial Paper Products. MoneyGram businesses are divided into two categories: Global Funds Transfers and Financial Paper Products. [47], Some of MoneyGram's main competitors include:[48], Committee on Foreign Investment in the United States, "MoneyGram chooses downtown Dallas for new headquarters", "MoneyGram Seen Cashing In at Decade-High Price: Real M&A", "MoneyGram claims bank status in tax dispute with U.S. IRS", "Western Union, Growing Faster Than Its Parent, Is to Be Spun Off", "Greyhound Corporation and Travelers Express", "Travelers Express to Reorganize, Close Anaheim Office", "Viad of Phoenix Agrees to Acquire Payments Firm for $287 Million", "MoneyGram Acquires Travelex Group's Interest in Joint Venture", "MONEYGRAM, THOMAS COOK FORM JOINT VENTURE FOR", "MoneyGram closing Brooklyn Center offices; 28 to lose jobs June 30", "MoneyGram CEO Pamela Patsley works to build new company legacy", "MoneyGram is closing its 376-person Brooklyn Center operation - MoneyGram", "MoneyGram Reaches 25,000 Locations Across Africa", "Africa: Moneygram Reaches 25,000 Locations in Africa", "U.S. shoots down MoneyGram's sale to China's Ant Financial", "Digital Financial Services partners with MoneyGram to offer eWallet services in the UAE", "Moneygram International Inc. Good morning, and welcome to the MoneyGram International Q1 2021 earnings release call. Operating through primary subsidiary MoneyGram Payment Systems, the firm sells MoneyGram-branded cash transfers and money orders at some 335,000 locations around the globe, and is a leading provider of money orders in the US. Fidelity National Information Services Inc. The company provides its service to individuals and businesses through a network of agents and financial institutions. [3] It has an operations center in St. Louis Park, Minnesota and regional and local offices around the world. As is evident from the statistics, the company’s shares have risen +144.56 percent over the past six months and at a -82.14% annual growth rate that is well below the industry average of 9.6%. MoneyGram (MGI) Down 10.5% Since Last Earnings Report: Can It Rebound? In 1996, Integrated Payment Systems, the nation's second largest non-bank consumer money transfer business, became its own publicly traded company and was renamed MoneyGram Payment Systems Inc.[15][13] In 1997, James F. Calvano, former president of Western Union, became MoneyGram Payment Systems CEO. MoneyGram International, Inc. is an American money transfer company based in the United States with headquarters in Dallas, Texas. Something went wrong while loading Watchlist. [27] On January 26, 2017, Ant Financial Services Group announced a deal to acquire MoneyGram International for $880 million; the deal subsequently collapsed after it was rejected by the Committee on Foreign Investment in the United States.[27][32]. [36] As a part of the settlement, MoneyGram created a $100 million victim compensation fund. [11], MoneyGram was formed in 1988 as a subsidiary of Integrated Payment Systems Inc.[12][13][14] Integrated Payment Systems was a subsidiary of First Data Corporation, which was itself a subsidiary of American Express. MoneyGram International Inc, P.O. MoneyGram International. Its consumer-centric capabilities enable family and friends to quickly and affordably send money in more than 200 countries and territories, with over 70 countries now digitally enabled. In 2014, MoneyGram was the second largest provider of money transfers in the world. America is about to find out. In 2014, MoneyGram lost a relationship with Wal-Mart Stores and then began restructuring to cut costs. One culprit in IRS backlog of 1.7 million tax returns? For the best MarketWatch.com experience, please update to a modern browser. Box 43549, Providence, RI 02940-3549, the remission administrator's phone number, 844-269-2630, and the official seals of the Department of Justice and the United States Postal Inspection Service. With a purpose-driven strategy to mobilize the movement of money, a strong culture of fintech innovation, and leading customer-centric capabilities, MoneyGram has grown to serve nearly 150 million people across the globe over the last five years. About MoneyGram International, Inc. MoneyGram is leading the evolution of digital P2P payments. The Company operates through two segments: Global Funds Transfer and Financial Paper Products. [12] By the late 1990s, MoneyGram Payment Systems had served customers at over 22,000 locations in 100 countries. Feb 1996 – Sep 2005 9 years 8 months. [8][9] In 2004, Travelers Express became what is known today as MoneyGram International. [30][31], Between late October 2016 and January 2017, MoneyGram's shares doubled in value. [25][26] In November 2010, MoneyGram officially relocated its global headquarters to the city of Dallas, Texas. The company was founded in 1940 and is headquartered in Dallas, TX. Its consumer-centric capabilities enable family and friends to quickly and affordably send money in more than 200 countries and territories, with over 70 countries now digitally enabled. This browser is no longer supported at MarketWatch. Report Fraud. PESTEL stands for - Political, Economic, Social, Technological, Environmental & Legal factors that impact the macro environment of MoneyGram International, Inc.. MoneyGram (MGI) Partners to Benefit Pay+ Mobile Wallet Users, MoneyGram Joins Pay+ Mobile Wallet In Middle East Digital Push, MoneyGram (MGI) Reports 14h Monthly Gain in Digital Business, Western Union (WU) to Offer Its Digital Technology to Kratos, MoneyGram (MGI) Renews Tie-Up to Boost Middle East Presence, MoneyGram (MGI) Sustains Triple-Digit Growth Rally in MGO, Western Union (WU) to Offer Services to Advance America. Have Watchlists? Unrest, A MoneyGram Sale Could Be a Payday for Goldman Sachs, MoneyGram shares soar after hours on report of Western Union takeover bid, MoneyGram Stock Doubled Because Ripple Will Invest Up to $50 Million, MoneyGram and blockchain company Ripple strike a deal that has MoneyGram stock jumping, Why bitcoin hasn’t gone to zero and is now knocking on the door of $10,000, Blockchain company Ripple invests in MoneyGram to power cross-border payments, shares explode higher, CVS, Cardinal Health, Walt Disney, Midterm Elections: The Week Ahead, Western Union Has a Long Way to Go to Challenge PayPal, Jack Ma's fintech startup shakes up China's banks, China Holds Other Cards to Fight Tariffs in a Trade War, The $600-billion-a-year opportunity that’s up for grabs, MoneyGram International (MGI) Q1 2021 Earnings Call Transcript, Why MoneyGram International Stock Surged Today, If You’re Patient, Hold BitTorrent As a Long-Term Investment, Ripple Is Not Out of the Woods Yet, Despite Positive SEC News, Western Union (WU) Ties Up to Boost Money Transfers in Indonesia, Tainted By Lawsuits, Avoid Ripple Despite Recent Rise, MoneyGram's (MGI) Digital Suite Makes Marked Progress in March, MoneyGram (MGI) Offers Its Payments as a Service to Sigue, MoneyGram Partners With Sigue Corporations On Payments, Ripple Is a Great Long-Term Buy No Matter What Happens With the SEC, MoneyGram (MGI) to Deepen Presence in Japan Via SBI Remit, MoneyGram (MGI) Launches New Service for Business Customers. The following slide deck was published by MoneyGram International, Inc. The Dallas-based company said it had a loss of 19 cents per share. MoneyGram International, Inc. (MoneyGram) is a global provider of money transfer services. Please contact your local MoneyGram agent to verify whether the service or … The Company operates through two segments: Global Funds Transfer and Financial Paper Products. Privacy Notice, and Mr. Dutcher received an undergraduate degree from Trinity University and an MBA from Texas Tech University. [22], In 2013, MoneyGram began considering a sale. It has an operations center in St. Louis Park, Minnesota and regional and local offices around the world. Monogram commits itself to bringing licensed characters to life through a wide variety of giftware, toys, aged collectibles and souvenirs for … Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only. 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