Through a strategic agreement, Movistar Remesas is now a member of MoneyGram’s network in Spain and is offering the opportunity for its 1,500 independently owned retail locations to provide money transfer services through MoneyGram to consumers across the country.
The 1,500 retail locations located throughout Spain, locally called "phone shops," provide a variety of communications services including phone and Internet access, Internet and phone cards and now money transfer services.
MoneyGram executive vice president of Europe, Middle East, Africa and Asia Pacific Nigel Lee said providing money transfer services through the Movistar Remesas network is a strategic and strong business opportunity for MoneyGram and Movistar as the demographic that uses both types of service is strongly aligned.
"According to the World Bank, Spain is a leading remittance country with more than $10bn in remittances received and $12bn sent out of the country. Leveraging the recognized Movistar brand is a great way to extend our presence in this vast send and receive money transfer market," Lee said.
