Telefonica | February 3, 2011 | Press Release
Pedro Saro Campos, Vice-President of MoneyGram International, and Horacio Pérez Perdigó, CEO of TTP España, have launched a money transfer service accessible from any of Movistar Remesas national locations. Vicente del Bosque, coach for the Spanish football team, inaugurated the new MoneyGram-Movistar network by making the first national transfer to an NGO that helps people with Down’s syndrome and the first international wire to Telefónica’s Proniño programme in Latin America for the eradication of child labour.
Pedro Saro Campos, Vice-President of MoneyGram International, and Horacio Pérez Perdigó, CEO of TTP España, today announced a business alliance designed to make it easier for Movistar customers to send money from any Movistar Remesas location to the international network of MoneyGram, which has offices all over the world.
Vicente del Bosque, coach for the Spanish football team, inaugurated the new money transfer network this morning by making the first two transfers; the first to a Madrid-based NGO that helps people with Down’s syndrome and the second an international wire to Telefónica’s Proniño programme in Latin America. The two donations totalled 20,000 €.
The agreement with Movistar Remesas deepens MoneyGram’s penetration of the community of people in Spain who send and receive money transfers. Moneygram’s network reaches 190 countries where it has a total of 207,000 agent locations, so that this alliance will enable swift and safe money orders to and from all corners of the world.
In fact, Spain has emerged as the top money transfer issuer in Europe and the number three issuer worldwide according to the second European Union study on worker remittances from the EU to third nations.
Despite the economic backdrop, the immigrant population’s ability to save, in a bid to can continuing to help their families, is proving tremendously resistant, as is evident in the latest Bank of Spain statistics. Immigrants in Spain transferred €1.96 billion in the last quarter of 2010, representing an inflow of essential funds for the regions on the receiving end of these remittances and playing an important role in improving these countries’ wellbeing.
Money transfers originating in Spain account for 5.7% of Bolivia’s gross domestic product, 3.6% of Ecuador’s GDP and more than 1% of that of the Dominican Republic and Colombia. According to recent research conducted by the World Bank, Latin America receives more than €38.3 billion in money transfers every year, equivalent to 70% of private investment in the region.
About MoneyGram International, Inc.
MoneyGram International, the world’s largest money transfer service, helps consumers with limited access to traditional banking services to satisfy their financial management needs. MoneyGram provides money transfer services around the globe and bill payment services in the US through a global network comprising more than 207,000 locations, including agents, international post offices and financial institutions, in more than 190 countries and territories all over the world. To learn more about money transfers or money orders through a MoneyGram location or online, please go to www.moneygram.com or visit us on Facebook.
About Telefónica
Telefónica is one of the world’s largest telecommunications network operators by market capitalisation and number of customers. It centres its activities mainly on the fixed and mobile telephony businesses, while its broadband business is the key growth driver underpinning both.It operates in 25 countries and its customer base exceeds 280 million globally. Telefónica has a strong foothold in Spain, Europe and Latin America, the latter region being the lynchpin of its growth strategy.
Telefónica is a 100% private company. It has more than 1.5 million direct shareholders. Its share capital consists of 4,563,996,485 ordinary shares traded on the Spanish stock exchanges (Madrid, Barcelona, Bilbao and Valencia), as well as on the London, Tokyo, New York, Lima, Buenos Aires and São Paulo stock exchanges.
