Under this agreement, Societe Generale will offer MoneyGram money transfer services to customers through its international retail banking network of 3,800 branches in 37 countries.
For those subsidiaries which were not yet offering money transfer services, the current agreement allows MoneyGram to assist the Societe Generale locations in opening revenue streams.
The new global agreement is an extension of the two companies’ successful partnership in Albania, Ghana, Russia, Mayotte and Reunion.
MoneyGram executive vice president of Europe, Middle East, Africa and Asia Pacific Nigel Lee said that Societe Generale has one of the largest bank retail networks in the world and this alliance greatly expands the ability to add important new agent locations in key remittance corridors and increase the market share.
