MoneyGram announced on Tuesday that PayPal customers in the U.S. can initiate a withdrawal from their accounts – online or via a mobile device – and receive the funds at any MoneyGram location in the country.
“This new service will provide an even greater level of flexibility, convenience and value to existing PayPal users,” Mark Lavelle, the senior vice president of strategy and business development at PayPal, said.
The announcement is the first phase of a plan that will eventually include the ability for PayPal customers to add funds into their accounts at MoneyGram locations throughout the U.S. by the end of the year.
“MoneyGram offers a powerful platform that we’re leveraging across the payments landscape, delivering new ways for customers to send and receive funds however, whenever and wherever they want,” MoneyGram Chairman and CEO Pamela H. Patsley said. “Innovation is at the core of MoneyGram’s business today, and we’re delighted to work with one of the world’s leading e-commerce companies to deliver this valuable new service.”
PayPal.MoneyGram.com, a new co-branded website, provides instructions for loading and sending funds to a PayPal account at select MoneyGram locations. Consumers can also initiate a cash withdrawal from their PayPal account using the site in as little as 10 minutes.