MoneyGram International, Inc. is an American money transfer company based in the United States based in Dallas, Texas. It has an operations center in St. Louis Park, Minnesota, and regional and local offices around the world. MoneyGram's business is divided into two categories: global remittances and financial paper products. The company provides its services to individuals and companies through a network of agents and financial institutions. in 2014, MoneyGram was the second largest remittance provider in the world. The company operates in more than 200 countries and territories with a global network of approximately 347,000 proxy offices. MoneyGram International formed as a result of the merger of two companies, Minneapolis-based Travelers Express and Denver-based Integrated Payment Systems Company MoneyGram was first established as a subsidiary of Integrated Payment Systems and then became an independent company before it was acquired by travelers in 1998. In 2004, Travelers Express became what is today known as MoneyGram International.