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MoneyGram & eLayaway Team Up

15 November 2011 by

MoneyGram & eLayaway Team Up

As the holiday season approaches, internet finance giant MoneyGram are teaming up with eLayaway to help consumers to steer clear of unmanageable credit card debts.

The internet’s only layaway system ‘eLayaway’ have announce that they have a new business relationship with global money transfer company MoneyGram. This new partnership will allow members to make cash payments through an ever expanding network of over 35,000 agents. This promises to take the company well beyond being an automatic clearing house (ACH) and will offer eLayaway members a greater level of convenience and flexibility.

Speaking of the new partnership, chief marketing officer and founder of eLayaway Sergio Pinon said,

We are honored to be working with a company as renowned and trusted as MoneyGram International. The partnership will add additional convenience and strategic value to the eLayaway process, allowing us to further strengthen our commitment and support of the underbanked/underserved community.

eLayaway Inc. was formed in 2005 and provides automated micro-payments systems which are designed to support layaway, leasing, micro-lending and layaway credit programs. Implementing eLayaway is possible with minimal costs to retailers and the service offers much lower fees than credit card processing networks. eLayaway has the unique ability to provide consumers with a way yo pay for goods and services with regular, manageable payments. This makes many items more affordable and also allows easier budgeting.

The great thing about eLayaway from a consumer point of view is that they will have greater buying power, payment flexibility and freedom form credit cards – all without the need for a credit check or any special qualifying details.

By adding MoneyGram ExpressPayment services, eLayaway will be able to support both online and ‘bricks and mortar’ layaway programs. The MoneyGram service will undoubtedly allow the unbanked to fund their eLayaway account using cash. It will also allow consumers to pay for online purchases using cash. This brings internet shopping to a new and previously untapped target market.

MoneyGram International are one of the world’s leading money transfer providers. They aim to allow consumers who are not served by traditional banks the ability to meet their own financial needs. MoneyGram currently offers bill payment services in most of the United States and in Canada. They also provide money transfers all over the globe. With a network of over 244,000 agents in 192 countries, MoneyGram have one of the most comprehensive transfer networks in existence.

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