The story of MoneyGram International Inc. is really the story about two businesses, coming together to create one of the world’s largest companies in the money transfer industry. Minneapolis-based Travelers Express Co. Inc. was founded in 1940 and became the world’s largest processor of money orders and a major player in the electronic payments industry. In early incarnations, Travelers Express had ties with bus company Greyhound Corp. and later consumer products company The Dial Corp., maker of Dial soap.
The other company that helped create MoneyGram International was Denver-based MoneyGram Payment Systems Inc., which entered the international money transfer business in 1988. MoneyGram Payment Systems interestingly enough, for one year, was a subsidiary of a company that owned Western Union.
Travelers Express and MoneyGram Payment Systems joined forces in 1998 when Travelers Express’ parent, Viad Corp., purchased MoneyGram Payment Systems. In 2004, Viad spun off the Travelers/MoneyGram group into a new publicly traded company - MoneyGram International Inc.
Commitment to Our Customers and Agents
For our customers, we offer an affordable, reliable and convenient way to send money and pay bills. Any where. Any time. For our agents, MoneyGram is a significant avenue for growth, delivering opportunities to drive incremental revenue while providing a critical service for their loyal customers. For billers and financial institutions, MoneyGram provides a valuable tool to enable efficiencies and improve profitability.