Pawnshop giant M Lhullier partners with Moneygram for money remittance

MANILA, Philippines-- Pawnshop giant M Lhullier today formally forged a partnership deal with international money transfer firm MoneyGram International in a bid to capture a piece of the remittances of overseas Filipino workers worldwide.

During the signing of the memorandum of agreement in Makati City, Michael Lhuillier, vice president of M Lhuillier Financial Services Inc., said the partnership will enable millions of overseas Filipino workers in different parts of the globe to send in money back to their families in the Philippines in an efficient and cost-effective manner.

He said one of the unique feature of the money transfer service the companies offer is that an OFW has now a choice if he wants to avail of the dollar-to-dollar payout or the traditional way, which is converting the foreign currency to Philippine peso.

"We want to provide them a choice if the customers come in and they want to hold on to their green buck for speculation purposes," Lhuillier said. Read more