FRAMINGHAM, Mass. -- Cumberland Farms has signed an agreement with MoneyGram International to launch the first locations of the MoneyGram Xpress service. This new in-lane money transfer service allows consumers to purchase prepackaged money transfers in $50, $100 and $200 denominations and redeem them online or by telephone to complete the transaction.
Framingham, Mass.-based Cumberland Farms has almost 600 convenience stores in 11 states throughout New England, the Northeast and Florida.
According to Bob Skiba, InComm executive vice president, the new MoneyGram Xpress prepaid money transfers allow consumers to pay for the transfer amount and fees at the same time as they make other retail purchases, and then actually make the transfer when convenient for them--online or by phone. Consumers using the service can send money to any MoneyGram agent location around the world
"MoneyGram Xpress broadens ways to access money transfer services, and--for many consumers--assists with time and money management," Skiba said.
According to Stu Kiefer, MoneyGram vice president of product management, the InComm partnership gives MoneyGram the opportunity to take this product to 19 countries and 250,000 unique retailer doors.
Cumberland Farms category manager Mike Esposito added, "As the newest agent for MoneyGram, we look forward to marketing this safe, efficient and cost-effective money transfer service to our loyal base of customers. We fully expect this innovative MoneyGram Xpress service to appeal to our customers throughout the regions where we operate."
Cumberland Farms is the first national in-lane prepaid money transfers rollout with MoneyGram and its processing partner, Ceridian Stored Value Solutions. The MoneyGram and SVS arrangement gives MoneyGram core processing capabilities in more than 40 countries, including Canada, Hong Kong, Russia, the United Kingdom, the United States and countries in the European Union.
MoneyGram International, a leading money transfer company, enables consumers who are not fully served by traditional financial institutions to meet their financial needs. The Dallas-based company offers bill payment services in the United States and Canada and money transfer services worldwide through a global network of more than 244,000 agent locations, including retailers, international post offices and financial institutions in more 192 countries and territories.
Atlanta-based InComm is a marketer, distributor and technology innovator of stored-value gift and prepaid products using its point-of-sale (POS) transaction technology and payment solutions to revolutionize retail product sales and customer experiences. With nearly $13 billion in retail sales transactions processed in 2010, InComm is the nation's largest provider of gift cards, prepaid wireless products, reloadable debit cards, digital music downloads, content, games, software and bill payment solutions. It partners with consumer brand leaders around the world to provide more than 225,000 retail locations the products and services their customers demand.
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