- Two firms set to offer digital to branch payment service
- Canada Post is leading parcel delivery service with many branches
- ”Working with Canada Post, we are able to provide more choices for consumers to send money how they want and when they want”, says MoneyGram leader
Online money transfer service MoneyGram has announced that it will pair up with a delivery services provider to offer better cash transfer options for customers.
The firm will join forces with Canada Post to deliver new money transfer services which will let customers move cash from place to place quickly and easily.
As part of the new scheme, customers in Canada will be able to log on to the MoneyGram website. At this point they will be required to make a profile and then initiate the transaction.
There, they will be able to pick the “Cash at a Location” choice and move the money.
The recipient can then collect it at a Canada Post physical location. The firm has over 5,200 locations across the country.
The partnership has placed security at its heart, and as a result it will be possible for customers to use a barcode containing the crucial information about the transaction.
It is understood that the new collaboration will occur on an exclusive basis.
MoneyGram’s Chief Revenue Officer, Grant Lines, said that the move would “provide more choices” to consumers.
"We are constantly exploring how to make money transactions simpler and more convenient to meet the expectations of our consumers", he said.
”Working with Canada Post, we are able to provide more choices for consumers to send money how they want and when they want, across our reliable and secure network.”
For Canada Post, the General Manager (Retail) John Reis said that the firm was “excited” about the development.
"We are excited to be the exclusive partner for MoneyGram on this new initiative", he said.
"Our money transfer operation is rooted in the belief that the ability to reliably send money should be as inclusive as possible. And now, along with MoneyGram, we are able to add to our digital portfolio of money transfer services, in the most convenient way possible for our customers."
MoneyGram has established itself as one of the leading money transfer services on the scene.
It operates in more than 200 countries and other locations, and it is known for its commitment to digital operations.
Canada Post is a household name within Canada and offers parcel delivery services across the large North American nation.
Canada is a key market for firms like MoneyGram. It has good wages, a high standard of living and a network of highly urbanised areas, all of which fuels demand for cash moving services. Crucially, it also requires money transfer services due to the vast distances between places: the distance from Vancouver to Toronto, for example, is over 2,500 miles. This unusual mixture of geographical distribution and lots of money means it’s no surprise that MoneyGram is looking for as many ways as possible to provide efficient and speedy cash transfer options.
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