Canada Post and MoneyGram confirm extended partnership

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Valentina Vitali
Valentina Vitali
FXC Intelligence Research Analyst
Valentina is a Research Analyst at FXC Intelligence, the data sister company of FXcompared. Valentina is passionate about payments and fintech. Valentin enjoys analysing money transfer companies and… Read more
  • MoneyGram, one of the world’s leading online money transfer companies, will work with Canada Post, thanks to the refreshed agreement.
  • The partnership dates back almost 20 years, and will now go on until the end of 2025.
  • Senior figures at both firms emphasised the importance of the partnership to each of their organisations, and said that they were looking forward to building on the work already done.

International money transfer company MoneyGram has confirmed that it will work alongside one of its key partners, Canada Post, for the next five years.

MoneyGram, which permits customers to make cash transfers and also settle bills, has had its partnership with Canada Post in place for almost two decades.

But now the pairing will extend until the end of 2025, meaning that customers of MoneyGram can still go to physical Canada Post outlets for financial services.

There are believed to be more than 5,000 such outlets across the nation. It will also be possible for customers to make transfers using the MoneyGram app.

A senior figure speaking on behalf of MoneyGram said that the company was involved in a wider plan to build some of the biggest ever customer-focused partnerships.

Alex Holmes, who chairs MoneyGram and is also its Chief Executive Officer, pointed out that the pairing already goes back a long way.

“We are thrilled to extend our partnership with Canada Post for five more years as we continue to execute our plan to grow the largest retail partnerships in major markets.”

“For nearly two decades, MoneyGram and Canada Post have collaborated to enable customers in Canada to easily send or receive money to and from family and friends across the globe,” he said.

And he went on to say that his company was now a “preferred partner” of Canada Post.

He cited a number of reasons why this was the case, including brand strength and overlaps in strategy between the two companies.

“Over the years, we have become Canada Post’s preferred partner given the strength of our brand, the breadth of our global platform, and our collaborative strategy to further improve customer experience,” he said.

Figures from MoneyGram show that a six-figure number of people tend to emigrate to Canada every single year.

In total, around 300,000 people make the move to the North American nation.

This is believed to be one of the largest rates – proportionate to populations – of all nations on earth.

And it means that more than a fifth of Canadian residents are immigrants.

Speaking on behalf of Canada Post, the firm’s General Manager for Retail echoed the sentiment expressed by Holmes.

“MoneyGram is a strong partner, and we’re thrilled to extend our successful relationship another five years,” said John Reis.

Overall, MoneyGram’s worldwide reach is believed to include around 350,000 physical outlets – including banks, shops and more.

To discover more information about how online money transfer firms like these are preparing for the coming years, just head to this link and read some reviews of major names in the sector.


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