Editing MoneyGram (section)

===MoneyGram Systems (1988–1997)===
MoneyGram was formed in 1988 as a subsidiary of Integrated Payment Systems Inc.<ref name=greenland/><ref name="therecord">{{Cite news |date=January 17, 1996 |title=FIRST DATA SPINNING OFF MONEYGRAM UNIT. |publisher=The Record.}}</ref><ref>{{Cite news |title=Form 8-K |publisher=Securities & Exchange Commission |url=https://www.sec.gov/Archives/edgar/data/884219/0000884219-98-000015.txt |access-date=11 October 2014}}</ref> Integrated Payment Systems was a subsidiary of [[First Data|First Data Corporation]], which was itself a subsidiary of [[American Express]].<ref name="Western Union, Growing Faster Than Its Parent, Is to Be Spun Off" /> In 1992, First Data was spun off from American Express and publicly traded on the [[New York Stock Exchange]].<ref name="Western Union, Growing Faster Than Its Parent, Is to Be Spun Off" /><ref name=wsj98/> First Data Corporation later merged with First Financial, the owners of rival [[Western Union]].<ref name="Western Union, Growing Faster Than Its Parent, Is to Be Spun Off" /> In order to approve the merger, the [[Federal Trade Commission]] forced First Data to sell Integrated Payment Systems.<ref name=therecord/>

Thomas Cook Global Foreign Exchange, under the stewardship of John Bavister, launched a re-engineered money transfer service in 1994. Branded as MoneyGram, the venture saw the partnering of the global travel giant with First Data Corp.{{Citation needed|date=October 2024}}

In 1996, Integrated Payment Systems, the nation's second largest non-bank consumer money transfer business, became its own publicly traded company and was renamed MoneyGram Payment Systems Inc.<ref name="wsj98" /><ref name="therecord" /> In 1997, James F. Calvano, former president of Western Union, became MoneyGram Payment Systems CEO.<ref name="greenland" /> By the late 1990s, MoneyGram Payment Systems had served customers at over 22,000 locations in 100 countries.<ref name="greenland">{{Cite news |last=Greenland, Paul R. |year=2008 |title=MoneyGram International, Inc. |volume=94 |pages=315–318 |work=International Directory of Company Histories |publisher=Detroit: St. James Press |editor-last=Tina Grant}}</ref><ref name="wsj98">{{Cite news |last=Steven Lipin |date=6 April 1998 |title=Viad of Phoenix Agrees to Acquire Payments Firm for $287 Million |work=[[Wall Street Journal]] |url=https://online.wsj.com/news/articles/SB891806460809674000 |access-date=29 September 2014}}</ref>

MoneyGram International Ltd. was established in 1997 by MoneyGram Payment Systems Inc. and Thomas Cook,<ref>{{Cite web |title=MoneyGram Acquires Travelex Group's Interest in Joint Venture |url=https://businesswireindia.com/news/news-details/moneygram-acquires-travelex-groups-interest-joint-venture/2480 |access-date=2018-07-30 |website=businesswireindia.com}}</ref> a year after the company had gone public.<ref name="greenland" /> At the time when MoneyGram International was established, MoneyGram Payment Systems owned 51 percent of the company, while the other 49 percent was owned by the [[Thomas Cook Group]].<ref>{{Cite news |title=MONEYGRAM, THOMAS COOK FORM JOINT VENTURE FOR |publisher=Bloomberg |url=https://www.bloomberg.com/article/1997-02-12/aCDC3VghFqeE.html |access-date=11 October 2014}}</ref><ref>{{Cite news |title=Form 10-K |publisher=Securities & Exchange Commission |url=http://ir.moneygram.com/secfiling.cfm?filingid=950123-11-25682&cik= |url-status=dead |access-date=11 October 2014 |archive-url=https://web.archive.org/web/20141031143710/http://ir.moneygram.com/secfiling.cfm?filingid=950123-11-25682&cik= |archive-date=31 October 2014}}</ref>