MoneyGram Extends Cooperation with Tesco to Polish Market

MoneyGram money transfer services are now available at 73 biggest Tesco hypermarkets in Poland

WARSAW, Poland, July 6, 2016 /PRNewswire/ -- MoneyGram (NASDAQ: MGI) announced today that its quick and reliable money transfer services are now available at 73 biggest Tesco's hypermarkets in Poland. Customers are able to send money to 200 countries worldwide and collect money sent by their friends and loved ones residing abroad just 10 minutes after it had been sent¹.

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Having great experience in the UK, Tesco and MoneyGram had taken the cooperation between the two companies to another level by opening joint services at the Polish market. This partnership ensures customers will enjoy money transfer services at their favorite and convenient Tesco stores - 73 locations at chain's hipermarkets are live now. As interest in money transfers in Poland is growing, MoneyGram plans to expand number of locations to 160 Tesco stores until the end of the year. The ultimate goal is to reach 450 touch points across the country which will be done gradually.

"This cooperation derives from both companies' long term, fruitful business relations on other markets and it demonstrates a shared commitment to our customers in Poland who now can use our services while doing their everyday shopping," said Zbigniew Furmańczak, Regional Director for Emerging Europe, MoneyGram. "We will continue our efforts to expand MoneyGram's network in Poland to bring our services closer to customers and provide them the best experience when sending and receiving money from friends and family around the globe," adds Zbigniew Furmańczak.

"Delivering high quality products and great services is one of Tesco priorities. Together with MoneyGram we are happy to introduce to our customers new money transfer service," said Eric Tavoukdjian, CE Marketing Operations Director at Tesco. "Thanks to this opportunity our customers will be able to send or receive money from their friends and family during everyday shopping. New service is available in our 73 biggest hypermarkets with the beginning of July, but till the end of the year MoneyGram transfers maybe available in 160 Tesco stores across Poland," said Tavoukdjian.

Poland is typically considered a "receive country" for money transfers, as more remittances are being received that send out of Poland. According to World Bank data, in 2015 an estimated $7.5 billion flowed into Poland and $1.6 billion was sent. Key sending markets to Poland are Germany ($2.2 billion), UK ($1.2 billion), US ($0.9 billion), and Canada ($350 million). Key sending corridors from Poland include France ($324 million) and Germany ($296 million). An increasingly important send market becomes Ukraine with estimated 800 thousand of Ukrainian diaspora being present in Poland. In 2015 they sent $233 million from Poland to Ukraine.² 

MoneyGram is accessible in Poland through 6,000 touch points including Bank Pocztowy, Poczta Polska, selected locations of Bank BPS and Pepco stores.

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About MoneyGram International, Inc.
MoneyGram is a global provider of innovative money transfer and payment services and is recognized worldwide as a financial connection to friends and family. Whether online, or through a mobile device, at a kiosk or in a local store, we connect consumers any way that is convenient for them. We also provide bill payment services, issue money orders and process official checks in select markets. More information about MoneyGram International, Inc. is available at moneygram.com.

Media Contact:
Maria Bankiet-Kamińska
MoneyGram
Tel: + 48 22 377 2185
Mob: + 48 885 889 696
Mail: MBankietKaminska@moneygram.com

About Tesco Poland:
Tesco is one of the leading chains of self-service shops on Polish market with more than 400 stores including hypermarkets and small local supermarkets. The company employs more than 28 000 people and offers over 1,500 products of Polish suppliers to its customers. Tesco stores are visited over by 5 million customers a week.

Media Contact:
Michał Sikora
Tesco Poland
Mob: + 48 506 001 580
Mail: misikora@pl.tesco-europe.com

¹ Subject to agent operating hours and compliance with regulatory requirements
²  World Bank, [Bilateral remittance matrix as of April, 2016,]