MoneyGram ,a global money transfer company, has announced a new global agreement with PayPal that will enable consumers to access money in their digital wallets in the physical world. PayPal users who number more than than 117 million will now have the option to put cash in and take funds out of their PayPal accounts at MoneyGram locations.
This agreement brings together the world’s leading e-commerce payment company with the world’s second-largest global money transfer company to give consumers a fast, convenient and secure way to easily get funds out of their PayPal account and put cash in via MoneyGram locations.
The new service options created through this agreement represent the first global solution for consumers who do not have or use a bank account or credit card to fund and maintain a PayPal account, giving them access to e-commerce. These services initially will be piloted in the United States in early 2013, followed by a phased roll-out in the United States and beyond.