Moneygram Payment Systems, Inc.
Company Information

1550 Utica Ave S Ste 100
Minneapolis, MN, 55416 United States
(952) 591-3000

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Moneygram Payment Systems, Inc. Company Profile

MoneyGram Payment Systems (MPS) banks on its customers, the more than 1,800 financial institutions to which it provides payment processing services. A subsidiary of MoneyGram International, MPS provides banks, thrifts, and credit unions with official checks (such as those commonly used in consumer loan closings); it also sells money orders through them and offers clients clearinghouse services. Other customers include retailers ( Walmart stores in the US and Puerto Rico), and post offices. MPS also provides bill payment services through its agents in the US and Canada. The company charges fees for its services, but derives most of its revenue from investing the funds underlying the checks or money orders.