Schnuck Taps MoneyGram As its Money Payment Network

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Schnuck Taps MoneyGram As its Money Payment Network

11/23/2011

Schnuck Markets, Inc., selected MoneyGram as its new global money payment network, offering customers assistance with financial services including a fast and convenient way to send money, pay bills and purchase money orders.

“Not only does MoneyGram provide our customers a fast and affordable way to send money almost anywhere in the world, but they have strong security measures in place that show a true commitment to fraud protection,” said Schnucks CFO David Bell. “MoneyGram delivers the same high-level of financial services our customers expect.”

Each of the 99 Schnucks locations that previously offered financial services are now a part of MoneyGram’s global network, which offers the convenience of sending money to any of its 256,000 locations across the globe, and the ability to receive money often as quickly as 10 minutes, according to MoneyGram. With this arrangement, the companies expect to provide extensive bill payment services and money transfers within the U.S., as well as with China, Mexico, Nigeria and the Philippines.

Additionally, MoneyGram routinely provides its agents with training on how to detect potential fraud, and it has instituted a cutting-edge alert system that determines risk level during the moment of transaction, saving its customers more than $50 million over the past year

St. Louis-based Schnuck Markets, Inc. operates 100 stores (including five Logli and seven Hilander stores) and 95 in-store pharmacies in Missouri, Illinois, Indiana, Wisconsin and Iowa.