DALLAS (11/5/14)--MoneyGram, a global money transfer and payment services company, has released a technology platform through which consumers can transfer money, pay bills, cash checks and load prepaid cards at kiosks, online, through mobile devices or at point-of-sale terminals.
MoneyGram, a CUNA Strategic Services alliance provider, calls MGiAlloy a "one-stop-shop" that fuses multiple financial services products from leading providers into an integrated suite and unified interface.
The platform is used today at retailers such as Tesco in the United Kingdom, H&R Block Financial Services, select CVS stores and hundreds of financial institution branches in the United States.
"Today's competitive environment in financial services challenges businesses to establish long-term relationships with customers who want quick and convenient ways to manage their money," said Peter Ohser, MoneyGram's executive vice president of United States and Canada. "Current market solutions do not link these products and services together on one technology platform. With MGiAlloy, financial institutions, retailers and mobile network operators can more efficiently attract and retain consumers who depend on alternative financial services for money management."
MoneyGram already provides access to financial services for millions of people who are not fully served by traditional institutions around the world. The platform is part of the company's strategy to offer consumers greater convenience and a frictionless experience across every channel.
"With the introduction of MGiAlloy, MoneyGram is deploying a world-class consumer interface that enables businesses to offer a variety of financial services products not limited to money transfer or bill payment through one simple integration," said Pamela H. Patsley, MoneyGram chairman/CEO. "Whether consumers want to send money, cash a check, pay a bill or load a prepaid card, or do it all, businesses can offer any combination of services through one seamless transaction. Through MGiAlloy, MoneyGram is expanding our services with business partners and financial institutions in a role beyond the money transfer agent relationship."