Bharti Walmart, Bharti Retail tie up with MoneyGram Int'l

Bharti Walmart and Bharti Retail today launched MoneyGram International's money transfer service at their stores in association with Thomas Cook India.

The service has been rolled out at 121 'easyday' and 11 'easyday Market' stores operated by Bharti Retail across India and at six 'Best Price Modern' wholesale stores run by Bharti Walmart, the 50:50 joint venture venture between Bharti Enterprises and Wal-Mart Stores Inc.

Thomas Cook is a principal agent of Moneygram International in India.

"At Bharti Walmart, it is our endeavour to help people save money and the launch of convenient money transfer service through our stores brings us a step closer to achieving that," Bharti Walmart Managing Director and CEO Raj Jain told reporters here.

As per RBI guidelines, Indian nationals can draw up to Rs 50,000 in cash through the service after showing valid identity documents. For transactions above Rs 50,000, they will be provided a cheque.

Foreign nationals can also avail of the service for up to $2,500.

"The tie-up will help Moneygram expand its footprint in India and increase the brand awareness," Moneygram International Executive Vice-President Dan O'Malley said.

Currently, Moneygram services are available across 30,000 locations across India.