MoneyGram opened over 30,000 locations in India

One of the largest money remitting services MoneyGram  has announced expansion of its presence in Asia by adding 4,200 new locations to its network in India through Bank of Baroda, Axis Bank and Vijaya Bank. Currently MoneyGram operates through in India over 30,000 locations. According to MoneyGram such a large number of locations is justified by the fact that India is the number-one remittance country in the world, taking in nearly $50 billion a year as per World Bank. 

MoneyGram entered the Indian market over 10 years ago and has since partnered with 26 banks, and with the addition of these three banking partners, has added 5,726 agent locations this year alone. In recent years, the company made a significant commitment to the market by opening regional offices in Mumbai and Delhi.