MoneyGram entered an agreement with China Guangfa Bank to provide money-transfer services across mainland China.
China Guangfa Bank adds 132 locations where MoneyGram offers its services. With this deal, MoneyGram offers transfers at more than 14,000 locations in China. China Guangfa Bank has more than 500 branches in mainland China, Hong Kong and Macau.
"Adding China Guangfa Bank to our network in China is an important step for us as we provide more access to affordable money transfer services to those who rely on remittances for their daily needs," said Nick Cunnew, MoneyGram's vice president for Asia Pacific, in a press release Sept. 10. "Customers in all the provinces where MoneyGram services are available appreciate our ability to bring people closer through a reliable and convenient customer service."