News

ACE Cash Express Extends Money Order Relationship With Travelers Express

Friday 31 October 2003 08:11 CET | News

ACE Cash Express has extended its money order agreement with Travelers Express Company, for four years, through December 31, 2007, providing ACE customers with consistent, quality money order services.

During the term of the amended agreement, ACE will continue to exclusively offer Travelers Express money orders at ACEs stores. The money order agreement, which ACE and Travelers Express entered into in 1998, was scheduled to expire on December 31, 2003. Under the amendment, Travelers Express will pay ACE a total of $3.4 million structured in a similar manner as the expiring agreement. During fiscal 2003, ACE sold money orders with a face value of $1.6 billion. ACE is also an agent for MoneyGram money transfers. In fiscal 2003, ACE customers sent $400 million MoneyGram money transfers, under an existing agreement with MoneyGram Payment Systems, Inc., an affiliate of Travelers Express.


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Categories: Payments & Commerce | Payments General
Countries: World
This article is part of category

Payments & Commerce