MoneyGram International and Bank of China have announced an agreement that will bring MoneyGram money transfer services to Bank of China’s 10,000 domestic branches in the mainland in the coming years.

The agreement, which more than triples MoneyGram’s presence in this growing remittance market, follows the successful completion of a six-month pilot that ran in 240 Bank of China branch locations in Beijing.

MoneyGram will begin rolling out its money transfer services in Bank of China branches in key provinces across the southern and eastern coast in China beginning in January and will continue expanding throughout the Bank’s extensive network in the country in 2010 and 2011. In addition, this new strategic alliance with Bank of China will create further opportunities for MoneyGram’s money transfer services in several other countries in the Asia Pacific region.

MoneyGram has been providing services in China since 1994 through agents including Industrial & Commercial Bank of China (ICBC), Bank of Communications (BCOM), CITIC Bank, China Industrial Bank, Shengjing Bank (former Shengyang Commercial Bank); Shenzhen Ping An Bank and Anshan Bank.

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