Dear Comrades,
MoneyGram, a global money transfer company, has renewed its agreement with India Post, the largest postal network in the world.
The company is now looking to add during this calendar year another 2,000 India Post locations offering MoneyGram’s money transfer service, Harsh Lambah, Senior Regional Director, South-Asia for MoneyGram, toldBusiness Line here on Tuesday.
MoneyGram had entered into a tie-up with India Post in September 2011.
The number of India Post locations where the company’s service is available had grown from 100 in September 2011 to 2,500 (in 16 States) as on date.
This announcement came on a day MoneyGram’s Chairperson and CEO Pamela Patsley began her visit to India.
Patsley sees nothing but tremendous opportunities for MoneyGram in India.
“We value our relationship with the India Post. It has gone very well. We are very pleased to extend that relationship and want to continue to grow from the 2,500 locations we have with them today,” Patsley said.
Brand presence
She also said MoneyGram was also keen to grow the rest of its agent base in India. “Our network growth will not be solely centred on India Post. It is an important ingredient and strengthens the presence of our brand. The strength of rest of our network helps India Post. It is collaborative”
Currently, MoneyGram has 45,000 locations in India with presence in every State and Union Territory.
On the global front, Patsley said she was encouraged about the global economy, adding that “the worst is behind us”.
“We certainly are not in a robust global economy today. But it is far better in the 2008-09 period. We are seeing bright spots.”
Patsley later met the senior officials of the Department of Posts in the Capital.
Lambah said that the company would also look at smaller villages and cities for the rollout of the next 2,000 post office locations.
“It will be a mix of both. We are going to intensify ourselves in key States where lot of traction is coming in. We are also going to go into Eastern UP and Bihar.
“A lot of migratory pattern changes are happening there,” he said.
