London, UK (12 March 2014) – MoneyGram, (NASDAQ: MGI) a leading global money transfer and payment services company, has teamed up with international department store Debenhams to offer money transfer services to its customers.
Debenhams’ customers will now be able to send and receive funds around the globe while doing their shopping at the 200-year old retailer in the UK.
MoneyGram services are currently offered at 44 Debenhams locations across the UK via its Travel Money bureaus, with further store expansion planned in the coming months. It is anticipated that the new service will be used by thousands of new customers who will enjoy sending from such locations.
“Customers want more convenience and flexibility in the way they send money home,” says Marc Matthews, regional director UK and Ireland at MoneyGram. “By partnering with a retailer such as Debenhams, we are adding an important option with convenient locations that customers may already visit.”
For a leading retailer like Debenhams, offering the MoneyGram service to millions of customers wanting to send money to family and friends abroad creates a useful one-stop-shop on the high street.
According to the World Bank, the UK is both a major source of remittances with an outward money transfer market worth of $3.8 billion *.
“We have a rapidly growing travel money and insurance business and we are always looking for new ways to offer our customers more choice, says Mike Hazell, Head of Personal Finance at Debenhams. “Working with MoneyGram gives us an opportunity to grow our existing services and attract new customers into our stores and offering MoneyGram services strengthens the breadth of our customer offer.”
* World Bank Migration and Remittances Factbook 2013
About MoneyGram International
MoneyGram International, a leading money transfer company, enables consumers who are not fully served by traditional financial institutions to meet their financial needs. MoneyGram offers money transfer services worldwide through a global network of 334,000 agent locations – including retailers, international post offices and financial institutions – in 200 countries and territories. MoneyGram also offers bill payment services in the U.S. and Canada. To learn more about money transfer or bill payment at an agent location or online, please visit moneygram.com or connect with us on Facebook.
Debenhams is a leading international, multi-channel brand with a proud British heritage which trades out of 240 stores across 28 countries. Debenhams gives its customers around the world a unique, differentiated and exclusive mix of own brands, international brands and concessions.
In the UK, Debenhams has a top four market share in womens’ wear and menswear and a top ten share in childrens’ wear. It leads the market in premium health and beauty.
Debenhams is the eleventh biggest UK online retailer by traffic volume and in March 2013 was awarded “International Growth Initiative of the Year” and “The Retail Technology Initiative of the year for Endless Aisle” at the Oracle Retail Week Awards.
Debenhams has been investing in British design for 20 years through its exclusive Designers at Debenhams portfolio of brands. Current designers include Jeff Banks, Jasper Conran, FrostFrench, Henry Holland, Betty Jackson, Jonathan Kelsey, Ben de Lisi, Julien Macdonald, Jane Packer, Jenny Packham, Pearce Fionda, Stephen Jones, Preen, Janet Reger, John Rocha, Jonathan Saunders, Marios Schwab, Ashley Thomas, Eric Van Peterson and Matthew Williamson.