MoneyGram is enabling PayPal’s 55 million active US account holders to withdraw money from their accounts either online or through mobile and collect the same at any MoneyGram location in the country.
Starting from 01 August 2013, the new service will also enable the PayPal customers to load funds into their accounts at various MoneyGram locations in Dallas, New York and San Francisco, while more sites will be added by the end of 2013.
The company said that the service would be particularly beneficial for customers, who do not have a bank account or credit card.
MoneyGram chairman and CEO Pamela Patsley said that the company strives to offer new ways for customers to send and receive funds according to their needs, time, place and convenience.
A co-branded web portal paypal.moneygram.com has also been launched to dictate the required procedures for loading and sending funds to a PayPal account at select MoneyGram locations.
MoneyGram delivers money transfer services globally through a worldwide network of 327,000 agent locations, including retailers, international post offices and financial institutions in 198 nations and regions.