Very intensive and focused approach has helped MoneyGram to grow business at a rapid pace and establish MoneyGram as a global player in the marketplace. 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. MoneyGram hired compliance officers in many of their global offices to ensure compliance with regulations of specific countries or regions. It is very convenient and quick to transfer money without opening accounts and having no payment cards, precisely due to this wired transfer system MoneyGram has become one of the most common worldwide. In March 2012, the company MoneyGram merged with the network of U.S. payment centers ZipZap.