Moneygram International Inc. announced an agreement with Canada Post to offer flat fees for both domestic and international funds transfers from that country.
Dallas-based Moneygram said the new fee structure, which began on June 10, means that money transfers up to $500 will cost a flat $10.
"We had a combined goal to offer simplified pricing that provides an equitable offer for all Canadians across the country," Grant Lines, chief revenue officer at Moneygram, said via email. "The simplified solution takes the mystery out of how much remittances cost to the consumer and speeds processing at the point of sale."
Moneygram has been partners with Canada Post for 15 years, and the Canadian postal service allows Moneygram customers to send and receive domestic or international funds transfers from about 5,200 locations across the country.
Earlier this month, Moneygram announced an agreement with Canada Post on a new digital money transfer service that will let consumers start the transaction online and complete the service at select Canada Post locations.
Copyright © 2019 Networld Media. All rights reserved., source Industry News