With the addition of PSBC to MoneyGram’s agent network and the rollout of MoneyGram’s money transfer services to mainland locations, services are currently available at approximately 20,000 locations in China.
PSBC was part of China Post until its spin off in March 2007 as a separate entity. PSBC provides an array of financial services including micro financing to rural and urban customers, small and medium enterprise, in-branch service, internet banking, telephone banking and mobile banking.
In recent news, MoneyGram has entered an agreement with Russian mobile phone retailer MTS, to offer money transfer services in the latter’s stores throughout Russia.
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