MoneyGram to Suspend Services in Russia
MoneyGram International (NASDAQ: MGI) has announced the suspension of its services in Russia amid the ongoing humanitarian crisis in Ukraine. The company is prioritizing the safety of its employees and supporting relief efforts through partnerships, including an emergency grant to the Ukrainian Relief Fund. While its services are suspended in Russia, MoneyGram continues to operate in Ukraine and surrounding countries, allowing customers to send and receive funds as the need for financial assistance increases.
- Continued operations in Ukraine enable financial support for families in crisis.
- Emergency grant directed towards the Ukrainian Relief Fund supports humanitarian efforts.
- Suspension of services in Russia could impact revenue and customer base.
DALLAS, March 11, 2022 /PRNewswire/ -- MoneyGram International Inc. (NASDAQ: MGI) today issued the following statement:
We have been closely monitoring the situation in Ukraine with great concern for all those impacted. As the humanitarian crisis in the region continues to escalate, we are providing notice to our customers and agents of our decision to suspend services in Russia. We join many voices in expressing our hope for a swift and peaceful resolution to protect civilians across all impacted regions and will continue to assess the situation.
Our top priority remains the safety of our employees, agents, partners, and their families. We have been in close contact with our impacted colleagues to provide support during this difficult time. We have also increased our support for our partnership with Save the Children, which is actively engaged in relief efforts in the region. Last week, the MoneyGram Foundation approved an emergency grant directed towards the Ukrainian Relief Fund.
MoneyGram services remain available in Ukraine – both for individuals to receive funds in-person or digitally directly to their bank account. Every day we see more transactions sent to Ukraine and surrounding countries such as Poland as customers transfer money to their families who are increasingly in need during this crisis.
About MoneyGram International, Inc.
MoneyGram International, Inc. (NASDAQ: MGI), a global leader in the evolution of digital P2P payments, delivers innovative financial solutions to connect the world's communities. With a purpose-driven strategy to mobilize the movement of money, a strong culture of fintech innovation, and leading customer-centric capabilities, MoneyGram has grown to serve over 150 million people in the last five years. The Company leverages its modern, mobile, and API-driven platform and collaborates with the world's top brands to serve consumers through its direct-to-consumer digital channel, global retail network, and embedded finance business for enterprise customers. MoneyGram is also a leader in pioneering cross-border payment innovation and blockchain-enabled settlement. For more information, please visit ir.moneygram.com, follow @MoneyGram on social media, and explore the website and mobile app through moneygram.com.
CONTACTS
Investor Relations:
214-979-1400
InvestorRelations@moneygram.com
Media Relations:
Stephen Reiff
media@moneygram.com
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SOURCE MoneyGram
FAQ
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