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Leading Payday Lender QC Holdings, Inc. Makes the Switch to MoneyGram

)--Workers across 23 states who use check cashing services can now also send money, pay bills or purchase a money order from one convenient location, using MoneyGram’s vast global network and payment services. QC Holdings, Inc., one of the nation’s leading payday lenders, this week began rolling out MoneyGram (NYSE:MGI) services at more than 300 of its retail locations after more than a 20-year affiliation with a leading competitor.

“We are excited about our new relationship with MoneyGram. Its strong global network and technology solutions will deliver exceptional value to our consumers and to our company,” said Darrin Andersen, QC Holdings’ president.

QC Holdings operates stores in 23 states, with the strongest presence in California, Missouri and South Carolina. The company’s primary consumer brands are Quik Cash and National Quik Cash, but the company also includes California Budget Finance, Express Check Advance of South Carolina, First Payday Loans, QC Finance and AutoStart USA.

“We are thrilled to have earned this business, as QC Holdings is a well established and respected company in the payday lending and check cashing industry,” said Dan O’Malley, MoneyGram’s executive vice president of the Americas and emerging markets. “Additions like QC Holdings give MoneyGram an established volume and revenue base from which to build on, plus they are our best sales tool. Their footprint and customer base is a strategic complement to MoneyGram’s network.”

QC Holdings, Inc. joins Mid-State Ventures, LLC d/b/a Friendly Check Cashing and Rite Check Cashing, Inc., which also joined MoneyGram earlier this year after long associations (15 years and 40 years, respectively) with a competing money transfer company. MoneyGram’s agent network also includes Advance America, ACE Cash Express and Speedy Cash.

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