MoneyGram has extended its relationship with SBI Remit in Japan, providing services both online and through walk-in locations to customers in Japan who want to transfer funds internationally.

The money transfer company has been working with SBI Remit since 2010. Financial terms of the contract extension were undisclosed in a Feb. 11 press release.

Nearly $3 billion is transferred from Japan annually, while more than $3.5 billion flows into the country, according to World Bank data cited in the release.

"With our continued focus on customers living and working in Japan and improved service to both senders and receivers, MoneyGram will continue to attract new customers to our global brand," said Grant Lines, executive vice president of business development for MoneyGram, in the release.

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