MoneyGram Americas and emerging markets executive vice president Dan O’Malley said Grupo Elektra is a well-known and respected brand in Mexico and in the US.
"This new agreement strengthens our position in the Mexico market and builds on our recent momentum in the region," said O’Malley.
The new multi-year money transfer agreement will provide an edge to MoneyGram’s position in the US to Mexico market, increasing the company’s network in Mexico by more than 10%, claims MoneyGram.
The team already offers money transfer services in five other countries throughout Latin America.
MoneyGram International which operates in 192 countries across the globes, also offers money transfer services worldwide and bill payment services in the US and Canada.
