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. In due time MoneyGram separated from the Western Union and became an independent brand. 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. Using the MoneyGram system, you can easily send money to your relatives and friends in other countries. In whatever part of the world you are, you can trust your money transfer to the company MoneyGram. Millions of families depend on MoneyGram to safely send money home or pay the bills. In March 2012, the company MoneyGram merged with the network of U.S. payment centers ZipZap.