DALLAS, Dec. 23, 2020 /PRNewswire/ — MoneyGram International, Inc. (NASDAQ: MGI), a global leader in cross-border P2P payments and money transfers, today announced a five-year extension to its partnership with Canada Post. This renewal, which runs through December 2025, allows MoneyGram customers to continue to transfer money and pay bills at over 5,000 Canada Post locations throughout Canada, as well as through the Company’s online channel (moneygram.ca) and leading mobile app.
“We are thrilled to extend our partnership with Canada Post for five more years as we continue to execute our plan to grow the largest retail partnerships in major markets,” said Alex Holmes, MoneyGram Chairman and CEO. “For nearly two decades, MoneyGram and Canada Post have collaborated to enable customers in Canada to easily send or receive money to and from family and friends across the globe. Over the years, we have become Canada Post’s preferred partner given the strength of our brand, the breadth of our global platform, and our collaborative strategy to further improve customer experience. The length of the contract term is a testament to the strength of our partnership, and I’m excited about the growth potential ahead.”
Annual immigration in Canada currently amounts to around 300,000 new immigrants, one of the highest rates per population of any country in the world. As of 2019, there were just under eight million immigrants with permanent residence living in Canada which equates to roughly 21.5% of the total Canadian population.1 As such, Canada is a major market for both MoneyGram and Canada Post, and the two organizations will continue to collaborate to meet the ever-changing needs of their mutual customers.
“MoneyGram is a strong partner, and we’re thrilled to extend our successful relationship another five years,” said John Reis, General Manager Retail at Canada Post. “Our large customer base continues to demand this critical service so that they can quickly and conveniently transfer money back home. We have a robust strategy in place, and I’m excited about the opportunities ahead for further growth and customer-centric collaboration.”