MoneyGram Payment Systems, Inc.

MoneyGram Payment Systems, Inc., is a non-bank provider of consumer money wire transfer services to individuals without traditional banking relationships. The company offers customers the ability to transfer funds quickly, reliably and easily through its approximately 22,000 agents. The company has agents in the Americas, Mexico and Europe. Primary customers of the company are traditional bank customers in need of emergency money transfer services, tourists without local bank accounts and businesses in need of rapid and economical money transfer services. Other activities include cash advance and express bill payment services. Fee revenue accounted for 81% of 1997 revenues and foreign exchange revenue, 19%.