If MoneyGram money transfer, for some reason has not been received by the addressee, the sender will receive a refund. 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. In due time MoneyGram separated from the Western Union and became an independent brand. Technology continues to play a key role in increasing MoneyGram transaction speed, automating and streamlining processes, and creating new functionality. Around the world, MoneyGram is working with leading financial institutions. MoneyGram International, Inc. - The U.S. financial company engaged in operations in the international financial markets since 1940. AgentConnect continues to be an attractive alternative for businesses that choose to integrate their networks and point-of-sale platforms with the MoneyGram wired transfer. MoneyGram hired compliance officers in many of their global offices to ensure compliance with regulations of specific countries or regions. 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. In March 2012, the company MoneyGram merged with the network of U.S. payment centers ZipZap.