PayPal Expands Offline Presence With MoneyGram Partnership

PayPal announced Monday that it is partnering with MoneyGram, a money transfer company, to give PayPal users the option to deposit and withdraw funds from their accounts from many of MoneyGram's 284,000 global locations.

The goal of the partnership, according to PayPal, is to provide consumers and retailers with a quick way to turn "cash to commerce."Starting in early 2013, anyone with an e-mail or phone number will be able to transfer and receive cash at a MoneyGram location. Consumers can deposit cash into their account and use it to make a payment, effectively taking the place of a prepaid card, while retailers can use the service to quickly gain access to cash from their transac…
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