KUALA LUMPUR: MoneyGram has partnered Merchantrade to provide its international money transfer services at 62 Merchantrade locations nationwide.
MoneyGram said the pact with Merchantrade, which is one of the fastest growing remittance companies in Malaysia, will bolster its international money transfer footprint here.
“Malaysia’s current agent network stands at nearly 1,100 and through the new agreement, Merchantrade will increase MoneyGram’s international money transfer footprint in Malaysia by 62 locations,” said Grant Lines, MoneyGram senior vice-president for Asia Pacific, Southeast Asia and Middle East.
Adding Merchantrade to its network is an important step as it provides more access to affordable money transfer services for those who rely on remittances for their daily needs, he added.
“The partnership will also enable MoneyGram to launch a trusted online money transfer in Malaysia through Merchantrade’s online e-remit service to give its customers more choices.”
Merchantrade Asia managing director Ramasamy Veeran said it can offer customers a money transfer service that is fast and reliable and to locations around the world.
To send or receive money in Malaysia, customers can walk into any MoneyGram agent location, complete a simple form and show a photo identification.
The funds will be ready for collection in as little as 10 minutes, subject to agent availability and hours of operation.
According to the World Bank, an estimated US$ 7 billion (RM22 billion) in remittances flowed out of Malaysia in 2011.