Amsterdam Metropolitan Area welcomes MoneyGram
With the acquisition of Blue Dolphin, MoneyGram makes an entrance to the Amsterdam Metropolitan Area.
MoneyGram
The global money transfer company, MoneyGram has ambitious growth plans in The Netherlands. Part of these plans involve moving to Amsterdam by taking over Blue Dolphin, another money transfer company. The news was announced by Moneygram in a press release.
Growth ambitions
MoneyGram’s strategy is to grow its owned retail network in regions with strong remittance potential.
Today there are 18 Blue Dolphin locations in Belgium and the Netherlands and the acquisition, along with the expanded opportunities for payment institutions introduced by the European Union in November, are the foundation for MoneyGram's growth across Belgium, the Netherlands and Luxembourg.
Migrants are primary customers
The firm focuses mainly on migrants living in the Amsterdam Area, meaning that the outgoing money transfers are larger than the inbound money transfers.
According to the Dutch newspaper het Parool (only in Dutch), Benelux is an important source of transactions to other countries in Europe, Morocco and Turkey.
"Owning our own network in key European markets has been essential to our growth," says John Hempsey, MoneyGram's Executive Vice President of Europe, Middle East, Africa and Asia Pacific.
Money transfers without bank accounts
Through local branches, customers can wire money to other MoneyGram branches around the world where the money can be withdrawn immediately. The entire transfer can be completed without a bank account.
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