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. MoneyGram point-of-sale systems are continually upgraded to provide the latest new products and functionality. The benefits of money transfers by MoneyGram: simplicity in making up. 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.