MoneyGram has expanded its services by adding nearly 1,200 locations in Mexico, Ecuador, Colombia and the Dominican Republic in the Latin America region. It has claimed that with this latest expansion, the Latin America region, including Mexico and the Caribbean, has more than 25,000 MoneyGram agent locations.
Reportedly, Farmapronto, a pharmacy chain, is MoneyGram’s newest agent in Mexico, providing more than 700 locations to MoneyGram’s large and growing network across the country. In the Dominican Republic, MoneyGram has brought a bank – Banreservas, expanding its network with 225 additional locations. In Ecuador, MoneyGram signed Banco Guayaquil, that has 145 branch locations; and in Colombia, the company has increased its presence with the addition of Bogota-based Macrofinanceria, a consumer lender and a player in the remittance market.
Anthony Ryan, president and CEO of MoneyGram, said: “MoneyGram’s network in Latin America has doubled over the last five years with growth balanced across more than 40 countries and territories to serve the needs of a region. These latest expansions are in countries where our network already is vast and diverse. We’re continuing to expand our presence in locations offering more convenience to our consumers such as Farmapronto, a pharmacy chain offering extended and weekend hours.”
