Walmart (NYSE:WMT) has extended its deal with MoneyGram (NASDAQ:MGI) for three more years.
The companies — which have had a partnership for more than 17 years — will begin a new deal between the two on Feb. 1 involving MoneyGram’s domestic and international money transfer.Additionally, international money transfer service and its bill pay and money order products in more than 4,000 U.S. Walmart locations will continue.
“We are extremely pleased to extend our relationship with Walmart for an additional three years,” said Alex Holmes, MoneyGram CEO.
Walmart Senior Director of U.S. Financial Services Kirsty Ward said that leveraging the company’s size and taking on big challenges will help the options that customers have on its stores, offering financial results that matter to them.
The two companies will continue to innovate in order to better suit the customer’s needs.
WMT stock is up 1.72% Monday. MGI stock is up 16.6%.
