On March 7, 2011, MoneyGram entered into a Recapitalization Agreement with THL, as the holder of all of the B Stock, and Goldman Sachs, as the holder of all of the B-1 Stock. 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. Commission income on remittances and other revenues of MoneyGram in the 2nd quarter 2012 increased by 10% compared to the same period last year and 13% in the base currency. In March 2012, the company MoneyGram merged with the network of U.S. payment centers ZipZap.