MoneyGram Signs Deal With Poste Italiane - Quick Facts

(RTTNews) - Moneygram International Inc. (MGI), global money transfer company, announced Friday that it has signed an agreement with Poste Italiane, the postal services' operator in Italy. As per the deal, MoneyGram will continue to offer services to consumers at convenient locations close to where they live and work.

The company noted that offering services to consumers in Italy is a priority for MoneyGram and Poste Italiane, as the country is a key country for remittances. According to Bancad'Italia, more than 6.8 billion Euro in remittances were made in 2012. Residents primarily send funds to friends and family in China, Philippines, Romania, Senegal, Morocco, Poland, India and Albania.