As part of the 2008 Recapitalization, our wholly owned subsidiary, MoneyGram Payment Systems Worldwide, Inc., issued Goldman Sachs $500.0 million of senior secured second lien notes with a 10-year maturity. MoneyGram point-of-sale systems are continually upgraded to provide the latest new products and functionality. The Global Funds Transfer segment is the primary segment of MoneyGram, providing money transfer and bill payment services to consumers, who are often unbanked or underbanked. If MoneyGram money transfer, for some reason has not been received by the addressee, the sender will receive a refund. MoneyGram's consumers and agents expect reliability and safety and that is precisely what MoneyGram continues to deliver, transaction by transaction. Until 2004, the owners of MoneyGram were Viad Corp and Travelers Express Company Inc.
The Global Funds Transfer segment is the primary segment of MoneyGram, providing money transfer and bill payment services to consumers, who are often unbanked or underbanked. If MoneyGram money transfer, for some reason has not been received by the addressee, the sender will receive a refund. MoneyGram point-of-sale systems are continually upgraded to provide the latest new products and functionality.