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. Despite the debt crisis in Europe and other shocks experienced by the world economy, the company MoneyGram International notes the increase in the money transfer market. MoneyGram completed the acquisition of MoneyCard World Express, S.A. (MoneyCard) and Cambios Sol, S.A., two money transfer super-agents located in Spain. MoneyGram launched a new in-person bill payment service which will be delivered through agents in their domestic network, giving consumers an easy, low-cost method to pay their bills. MoneyGram hired compliance officers in many of their global offices to ensure compliance with regulations of specific countries or regions. Until 2004, the owners of MoneyGram were Viad Corp and Travelers Express Company Inc.