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This follows a 25 per cent growth of MoneyGram International in Africa last year.
MoneyGram and PostBank hope to provide a safe, fast and reliable money transfer service.
Customers will be able to send and receive cash within Kenya and internationally in 10 minutes, without the need for bank accounts or credit cards, said Anton Luttig, MoneyGram's regional manager for Africa.
He added: "MoneyGram is focused on increasing its convenience to customers across Kenya.
PostBank's locations are key to our strategy to double our network in the country this year and to continue our rapid growth across Africa.
"This alliance gives MoneyGram access to more customers in Kenya and to significantly expand our service to both local and international cash transfers."
The new service was launched on October 16 at Mama Ngina Drive, Mombasa.
It will be followed by a nationwide roadshow to announce the services offered.
"PostBank is pleased to add MoneyGram services to its network in Kenya. This co-operation will contribute to our growth in the industry worldwide," said Ms Anne Karanja, director of operations, PostBank.
MoneyGram has been transacting in Kenya for more than a decade.
It is available in more than 180,000 locations in over 190 countries and territories worldwide.
Other MoneyGram agents in Kenya include Co-op Bank, Imperial Bank, National Bank, CFC Stanbic Bank, Paramount Bank, Prime Bank, I&M Bank, Diamond Trust Bank, Capital Forex Bureau and Kenya Commercial Bank.
MoneyGram offers diverse choices for people separated from friends and family, and to those with limited bank facilities.
Its global network comprises 180,000 agent locations in nearly 190 countries and territories.
MoneyGram International helps consumers to send money safely and quickly -- subject to agents' hours of operation and local regulations.
MoneyGram's convenient and reliable network includes retailers, international post offices and financial institutions.
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