Agricultural Bank of China partners with MoneyGram for remittance service
Agricultural Bank of China (ABC) has partnered with MoneyGram, a money transfer company, to offer money transfer services .
The agreement will allow customers in the most remote areas of China to receive and send cross-border remittances.
A World Bank study revealed that $64bn flowed into China in 2014.
MoneyGram CFO and COO Alex Holmes said: “The new relationship will play a key role in helping MoneyGram achieve its goal of expanding its network to consumers in all corners of the country, both urban and rural.”