THE STORY OF MONEYGRAM
- 1988 MoneyGram was first launched by American Express to enable cardholders to send money quickly and safely.
- 1992 First data corporation ( of Which MoneyGram was a division), was spun off from American Express.
- 1996 MoneyGram was floated seperatly on the New York stock exchange as an IPO ( Initial Publi Offering)
- 1997 MoneyGram international Limited (MIL) was formed as a joint venture company by Thomas Cook ltd and MoneyGram Payment Systems Inc. Based in the USA, MoneyGram payment System Inc is the leading company in the provision of money transfer services, and is now a division of travelers express.
- 1998 Traveler express, the leading Money Order company, bought MoneyGram Payment Systems Inc.
MoneyGram is now the second largest money transfer company in the world and growing. MoneyGram has developed a reputation for being very innovative and fast moving, and it owes its success to the committed employees involved in developing, marketing and selling the brand across the world.
In September 2000, The MoneyGram network reached 142 countries and approximately 36,000 locations. Transactions have also been growing at a phenomenal rate.
In 1991 the number of agent locations representing MoneyGram numbered 11,753 by the year 2000 that number had grown to 36,000 and is still growing
Targeted to Help:
- Immigrant workers who need to provide financial support for their families abroad.
- Travelers who have run out of money or who have lost their money.
- Business people who need to receive their wages or who need more money than anticipated for their trip.
- Students who need pocket money and to pay their college fees.
- Emergency Whilst abroad someone becomes sick and needs money urgently.
- Investor Building people buying land or building a house back home.
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Emotional Benefits:
- With MoneyGram you know your loved ones will receive your money safely.
- With MoneyGram you are only ever ten minutes away from your home.
- With MoneyGram you can feel good about yourself because you know you are doing the right thing.
- MoneyGram connects you to your loved ones.
Product Benefits:
- A quick way to send a receive money (it only takes ten minutes).
- A convenient way to send and receive money (available in 142 countries and 36,00 locations).
- A reliable way to send money (impossible to lose a transaction).
- Both simple for sender and receiver to use (You only need to fill in a simple form).
BRAND PERSONALITY The MoneyGram Brand Personality:
- Safe, secure, reliable and friendly.
- A trusted friend who is knowledgeable and wise.
- A caring problem solver who is also fun and a good person to have around . Like Nelson Mandela!
Product Attributes:
- A person to person money transfer service that allows consumers to send or receive money around the world.
- No Bank account necessary.
- A quality product agents are banks, post offices
- travel agents that provide good security and service to the customer.
- A fully automated system that works outside of the traditional banking system.
- A totally secure system- it is impossible to lose a transaction – the money is garruanteed to arrive at its destination.
- A free ten word message can be sent with the MoneyGram so messages can be personalized.
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