The transaction is expected to close in Q4 of 2014 subject to closing conditions.
MoneyGram is set to acquire approximately 200 kiosks primarily located in California, Illinois and Texas. Money transfers at the kiosks are through Nexxo Financial to 15 countries across Latin America. Upon closing, these kiosks are set to provide automated, self-service money transfers to MoneyGram agents worldwide. Consumers are also set to be able to pay bills using MoneyGram’s bill payment network.
In recent news, Flurish, doing business as LendUp, has inked two service agreements with global money transfer and payment services company MoneyGram.
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