MoneyGram International can trace its roots back to 1940, with the founding of Minneapolis-based Travelers Express Co., Inc. Under parent company Viad Corp., Travelers Express quickly became one of the world's largest processors of money orders and a key player in the electronic payments industry, with ties to big-name businesses including bus company Greyhound Corp. and soap maker The Dial Corp.
In 1998 came a change that would form MoneyGram and ultimately lead to the company's success in the money transfer industry. Viad Corp purchased Denver-based international money transfer company MoneyGram Payment Systems Inc. Founded in 1988, MoneyGram Payment Systems Inc. was a subsidiary of a company that also owned Western Union.
Travelers Express and MoneyGram Payment Systems Inc. were seamlessly united to form MoneyGram, which quickly became a globally recognized and well-trusted brand. Then, just before midnight on June 30, 2004, Viad sold MoneyGram, and it became a publicly traded, individual entity.
Today, under chairman and chief executive officer Pamela H. Patsley, MoneyGram is the second-largest money transfer company in the world and has $1.45 billion in annual revenues. We have a track record of targeted growth and are well-positioned in a nearly $600 billion - and growing - industry.
MoneyGram now offers services at approximately 350,000 agent locations in more than 200 countries, and has an aggressive expansion plan that includes 15 to 20 percent of money transfer revenue from self-service channels including online, mobile, account deposit, ATMs, and kiosks. We believe that self-service investments focused on an exceptional consumer experience are integral to our continued success.