Meeting customers' financial needs since 1940
MoneyGram International can trace its roots back to 1940, with the founding of Minneapolis-based Travelers Express Co., Inc. Under parent company Viad Corp., Travelers Express quickly became one of the world's largest processors of money orders and a key player in the electronic payments industry, with ties to big-name businesses including bus company Greyhound Corp. and soap maker The Dial Corp.
In 1998 came a change that would form MoneyGram and ultimately lead to the company's success in the money transfer industry. Viad Corp purchased Denver-based international money transfer company MoneyGram Payment Systems Inc. Founded in 1988, MoneyGram Payment Systems Inc. was a subsidiary of a company that also owned Western Union.
Travelers Express and MoneyGram Payment Systems Inc. were seamlessly united to form MoneyGram, which quickly became a globally recognized and well-trusted brand. Then, just before midnight on June 30, 2004, Viad sold MoneyGram, and it became a publicly traded, individual entity.
Today, under chairman and chief executive officer Pamela H. Patsley, MoneyGram is the second-largest money transfer company in the world and has $1.5 billion in annual revenues. We have a track record of targeted growth and continued market outperformance and are well-positioned in a nearly $600 billion - and growing - industry.
MoneyGram now offers services at more than 345,000 agent locations in more than 200 countries, and has an aggressive expansion plan that includes a goal of reaching $2 billion in revenue in 2017. We aim to generate 15 to 20 percent of this revenue from self-service channels including online, mobile, account deposit, ATMs and kiosks. We believe that these self-service investments focused on an exceptional consumer experience are integral to our continued success.