MoneyGram (MGI) Adds More Than 1,100 New Agent Locations to Its Network in South America

Welcome to CRWENewswire, Stocks to watch, I am Yohemy Auerbach. MoneyGram International Incorporated - Symbol MGI - reported it has added three new agents to its network in South America: Bancolombia in Colombia; Banco de Credito in Peru, and Banco Vision in Paraguay. These leading financial institutions add 1,103 new agent locations to the company’s network – and thereby significantly expand MoneyGram’s foothold in South America to 11,305 locations. According to the World Bank, in 2010, Colombia received an estimated $3.9 billion in remittances; nearly $2.5 million in remittances were received into Peru and Paraguay took in an estimated $537 million in remittances last year. MoneyGram International, a leading money transfer company, enables consumers who are not fully served by traditional financial institutions to meet their financial needs.