International money transfer services provider MoneyGram acquires super agent Advanced ChronoCash Services (ACCS) and has signed an agreement to acquire MoneyGlobe Payment institution. The acquisitions are thought to help MoneyGram get closer to consumers and add cash to account services.
ACCS have a loyal retail agent base in over 400 locations and has been a great partner to MoneyGram. "By acquiring the company, we will now be able to continue to expand the network directly in partnership with our agents who serve our consumers every day." explained Carl Scheible the executive vice president of Europe and Africa at MoneyGram.
MoneyGobe on the other hand provide cash to account money transfer services from Greece to Bangladesh. MoneyGram hope the acquisition of this company will enable them to be able to offer a technology-driven solution to people based in Greece with money transfer requirements.
MoneyGram has acquired ACCS through a share purchase agreement and has signed an agreement to do the same with MoneyGlobe subject to closing conditions and regulatory approvals in the hope of capturing a larger market share in Greece once the country begins to recover and new opportunities arise.