MoneyGram launches at 8,000 Sberbank locations in one day

MoneyGram International and State Savings Bank of Russian Federation (Sberbank) announced that now 8,000 bank branches will begin offering MoneyGram’s international money transfer service throughout Russia. Launching the service with 8,000 new locations in one day is a significant technological and business breakthrough and is a first for an agent of this magnitude.

“We are thrilled to launch this powerful partnership with Sberbank and expect this relationship to bring success to our companies and more value and more choices to money transfer consumers across Russia,” said MoneyGram Chairman and CEO Pamela H. Patsley. “With over 12 million immigrant workers in Russia, the second-largest immigrant population in the world behind the United States, there is huge opportunity for money transfer services. Through our partnership with Sberbank we are sure to meet the demand for international money transfers in this region.”

“Being able to provide MoneyGram’s reliable international money transfers in more than 8,000 branches across Russia is a great achievement and one that we are very proud of,” said German Gref, chairman of Sberbank. “Our robust bank system in Russia and MoneyGram’s strong network of participants of MoneyGram money transfer system across the globe is an excellent combination that will strengthen both of our companies’ reach around the region.”