Money transfer system MoneyGram International and the second largest bank in China - Bank of China, announced the start of service of MoneyGram at 200 offices Bank of China in Beijing. MoneyGram completed the acquisition of MoneyCard World Express, S.A. (MoneyCard) and Cambios Sol, S.A., two money transfer super-agents located in Spain. In March 2012, the company MoneyGram merged with the network of U.S. payment centers ZipZap. MoneyGram financial results were driven by money transfer business, which delivered more than 40 percent growth in transaction volume.