Later that year, Viad spun off Travelers Express as an independent company.
#MONEYGURU PHILIPPINES CORPORATION FULL#
In 2003, Travelers Express gained full ownership of the MoneyGram network, including MoneyGram International. In November 2000, the MoneyGram brand and business was sold to Travelex as part of its acquisition of Thomas Cook Financial Services for £400m. MoneyGram was then folded into Viad's Travelers Express in Minneapolis. In April 1998, Viad Corp acquired MoneyGram Payment Systems Inc. At the time when MoneyGram International was established, MoneyGram Payment Systems owned 51 percent of the company, while the other 49 percent was owned by the Thomas Cook Group.
and Thomas Cook, a year after the company had gone public. was established in 1997 by MoneyGram Payment Systems Inc. By the late 1990s, MoneyGram Payment Systems had served customers at over 22,000 locations in 100 countries. Calvano, former president of Western Union, became MoneyGram Payment Systems CEO. In 1996, Integrated Payment Systems, the nation's second largest non-bank consumer money transfer business, became its own publicly traded company and was renamed MoneyGram Payment Systems Inc. Branded as MoneyGram, the venture saw the partnering of the global travel giant with First Data Corp. Thomas Cook Global Foreign Exchange, under the stewardship of John Bavister, launched a re-engineered money transfer service in 1994. In order to approve the merger, the Federal Trade Commission forced First Data to sell Integrated Payment Systems. First Data Corporation later merged with First Financial, the owners of rival Western Union. In 1992, First Data was spun off from American Express and publicly traded on the New York Stock Exchange. Integrated Payment Systems was a subsidiary of First Data Corporation, which was itself a subsidiary of American Express. MoneyGram was formed in 1988 as a subsidiary of Integrated Payment Systems Inc. In 1965, Travelers Express was acquired by The Greyhound Corporation (now known as Viad Corp) and became the nation's largest provider of money orders before initiating a company reorganization plan in 1993. The Minneapolis-based Travelers Express Co.
In 2004, Travelers Express became what is known today as MoneyGram International. MoneyGram was first established as a subsidiary of Integrated Payment Systems and afterwards became independent company before it was acquired by Travelers in 1998. MoneyGram International formed as a result of two businesses merging, Minneapolis-based Travelers Express and Denver-based Integrated Payment Systems Inc. 1.3 MoneyGram International (1998–present).
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