Raise your money if you have sent money overseas. OK everyone put your hand down. We all have. Remittances are big money. In some countries the money we send back to our abuelas, tios and tias makes or breaks a country’s economy. Which is why any news about what companies are in this business is something to keep an eye on.
So this headline caught my eye: MoneyGram Acquires Latino Services
Then this: The acquisition will add 10 new stores to MoneyGram’s money transfer network, which will enhance remittances from the US to Mexico and Latin America, further expanding the company’s reach in the high potential emerging markets.
OK this is Billions of dollars. Specially if they are moving in to markets that are not traditionally Latino markets, like Atlanta.
TO read more: http://www.zacks.com/stock/news/103382/moneygram-acquires-latino-services