Post Office and MoneyGram celebrate 20 years of partnership and 20 million transactions together at an event held at British Museum in London…reports Rajith Saleem
It was remarkable event in the business history of Britain. A tie up which survived two decades and handled 20 million transactions despite tough competition from market rivals and the newly emerged online firms. Paula Vennells, Chief Executive Officer for the Post Office, described the relationship between Post Office and MoneyGram as a `match made in heaven.’
She was addressing the event held at prestigious British Museum to mark 20 years of partnership with MoneyGram and the completion of 20 million transactions together.
“Through our successful 20-year relationship with MoneyGram, we have made sending or receiving money around the world easier and, with the introduction of new services, this will get even easier,” said Vennells. “With our 11,500 branches, Post Office is the largest UK retail network with extensive operating hours and over 3,000 branches open seven days a week making it convenient for MoneyGram customers to access a wide range of services at a time that suits them. We are delighted to be part of the new service launch on the same day as we celebrate our 20-millionth transaction together.”
Pam Patsley, Executive Chairman, MoneyGram who joined Ms Vennells in the celebration outlined the importance of tech enabling cash to counter the new online entrees in the money transfer market.
“This is a significant milestone and a very proud moment for all of us at MoneyGram. The 20-year business relationship we are celebrating today is a testament to the strength of a shared commitment MoneyGram and the Post Office have to each other and most importantly to our customers,” said Patsley.
She added that Post Office is the largest UK retail network with extensive operating hours and over 3,000 branches open seven days a week which makes it convenient for MoneyGram customers to access a wide range of services at a time that suits them.
MoneyGram and the Post Office also introduced `MoneyGram Plus’ card program which allows both the sender and receiver information to be stored in the MoneyGram system, thereby simplifying the process for repeat transactions.
“The MoneyGram Plus card will enhance the customer experience, saving time and making transactions even more convenient,” said Peter Ohser, Executive Vice President, Americas & Europe, MoneyGram.
“The Indian corridor is one of the most important corridor as statistics reveal that, cash flow was highest in last year in this corridor. Hence we are committed to present timely campaigns which would capitalize on the upcoming festival season,” informed Richard Levy, Director, Marketing, MoneyGram to Asian Lite. Catherine D’Sullivan, Director, was also present
He also added that the Middle Eastern market is thriving for MoneyGram and MoneyGram Dubai is one of its most successful operations abroad.
According to the World Bank, the UK is home to nearly 8 million immigrants. The biggest diaspora groups moved to the country from India, Poland, Pakistan and the Republic of Ireland. The World Bank data reveals that in 2014, an estimated $2.5 billion USD was sent from the UK and $1.8 billion USD flowed into the country.