Exhibit 10.3

August 12, 2011

MONEYGRAM INTERNATIONAL, INC.

2828 N. Harwood Street, 15th Floor

Dallas, TX 75201

 

Re: Amended and Restated Purchase Agreement (as amended, the “Equity Purchase
Agreement”) dated as of March 17, 2008 among MoneyGram International, Inc.
(“Holdco”) and the several investors party thereto (the “Investors”);
capitalized terms used, but not defined, herein shall have the meaning given to
such terms in the Equity Purchase Agreement

Reference is hereby made to that certain Indenture dated as of March 25, 2008
(as amended, the “Indenture”) among MoneyGram Payment Systems Worldwide, Inc., a
Delaware corporation (the “Company”), the guarantors party thereto and Deutsche
Bank Trust Company Americas, as trustee and collateral agent (the “Trustee”),
providing for the issuance of 13.25% Senior Secured Second Lien Notes due 2018.

Holdco has notified the undersigned Investors that the Company has agreed to and
is entering into certain Fourth Supplemental Indenture (the “Fourth Supplemental
Indenture”) among the Company, the guarantors party thereto and the Trustee, and
attached hereto as Annex A, pursuant to which the definition of “Highly Rated
Investments” contained in the Indenture will be amended. In connection with the
Fourth Supplemental Indenture, Holdco desires to amend its investment policy to
reflect this revised definition of “Highly Rated Investments”. Pursuant to
Section 3.3(f) of the Equity Purchase Agreement, the written consent of the
undersigned Investors is required as a condition to Holdco being permitted to
amend its Investment Policy attached as Schedule G to the Equity Purchase
Agreement. Holdco has requested that the undersigned Investors execute and
deliver this letter agreement to consent to, and by executing this letter
agreement the undersigned Investors hereby issue their consent to, the changes
to the definition of “Highly Rated Investments” contained in the Fourth
Supplemental Indenture and to any resulting changes in the Investment Policy
relating to Holdco’s and its subsidiaries’ investment portfolio.

THIS LETTER AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED AND INTERPRETED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.

[SIGNATURE PAGES FOLLOW]

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INVESTORS:     THOMAS H. LEE EQUITY FUND VI, L.P.       By:   THL EQUITY
ADVISORS VI, LLC,         its general partner       By:   THOMAS H. LEE
PARTNERS, L.P.,         its sole member       By:   THOMAS H. LEE ADVISORS, LLC,
        its sole member       By:   /s/ Thomas M. Hagerty        

Name:  Thomas M. Hagerty

Title:    Managing Director

    THOMAS H. LEE PARALLEL FUND VI, L.P.       By:   THL EQUITY ADVISORS VI, LLC
        its general partner       By:   THOMAS H. LEE PARTNERS, L.P.,        
its sole member       By:   THOMAS H. LEE ADVISORS, LLC,         its general
partner       By:   /s/ Thomas M. Hagerty        

Name:  Thomas M. Hagerty

Title:    Managing Director

    THOMAS H. LEE PARALLEL (DT) FUND VI, L.P.       By:   THL EQUITY ADVISORS
VI, LLC         its general partner       By:   THOMAS H. LEE PARTNERS, L.P.,  
      its sole member       By:   THOMAS H. LEE ADVISORS, LLC,         its
general partner       By:   /s/ Thomas M. Hagerty        

Name:  Thomas M. Hagerty

Title:    Managing Director

[SIGNATURE PAGE TO INVESTOR CONSENT LETTER]

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    GREAT WEST INVESTORS L.P.       By:   THOMAS H. LEE ADVISORS, LLC,        
its attorney-in-fact       By:   /s/ Thomas M. Hagerty        

Name:  Thomas M. Hagerty

Title:    Managing Director

   

PUTNAM INVESTMENTS EMPLOYEES’

SECURITIES COMPANY III LLC

      By:   PUTNAM INVESTMENTS HOLDINGS LLC         its managing member      
By:   PUTNAM INVESTMENTS, LLC         its managing member       By:   THOMAS H.
LEE ADVISORS, LLC         its attorney-in-fact       By:   /s/ Thomas M. Hagerty
       

Name:  Thomas M. Hagerty

Title:    Managing Director

    THL COINVESTMENT PARTNERS, L.P.       By:   THOMAS H. LEE PARTNERS, L.P.    
    its general partner       By:   THOMAS H. LEE ADVISORS, LLC         its
general partner       By:   /s/ Thomas M. Hagerty        

Name:  Thomas M. Hagerty

Title:    Managing Director

[SIGNATURE PAGE TO INVESTOR CONSENT LETTER]

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    THL OPERATING PARTNERS, L.P.       By:   THOMAS H. LEE PARTNERS, L.P.      
  its general partner       By:   THOMAS H. LEE ADVISORS, LLC         its
general partner       By:   /s/ Thomas M. Hagerty        

Name:  Thomas M. Hagerty

Title:    Managing Director

   

THL EQUITY FUND VI INVESTORS

(MONEYGRAM), LLC

      By:   THL EQUITY ADVISORS VI, LLC,         its general partner       By:  
THOMAS H. LEE PARTNERS, L.P.,         its sole member       By:   THOMAS H. LEE
ADVISORS, LLC,         its general partner       By:   /s/ Thomas M. Hagerty    
   

Name:  Thomas M. Hagerty

Title:    Managing Director

[SIGNATURE PAGE TO INVESTOR CONSENT LETTER]

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    THE GOLDMAN SACHS GROUP, INC.       By:   /s/ John E. Bowman        

Name:  John E. Bowman

Title:    Attorney-in-fact

    GS CAPITAL PARTNERS VI FUND, L.P.       By:   GSCP VI Advisors, L.L.C.,    
    its General Partner       By:   /s/ John E. Bowman        

Name:  John E. Bowman

Title:    Vice President

    GS CAPITAL PARTNERS VI OFFSHORE FUND, L.P.       By:   GSCP VI Offshore
Advisors, L.L.C.,         its General Partner       By:   /s/ John E. Bowman    
   

Name:  John E. Bowman

Title:    Vice President

    GS CAPITAL PARTNERS VI GmbH & Co. KG       By:   GS Advisors VI, L.L.C., its
Managing Limited Partner       By:   /s/ John E. Bowman        

Name:  John E. Bowman

Title:    Vice President

    GS CAPITAL PARTNERS VI PARALLEL, L.P.       By:   GS Advisors VI, L.L.C.,
its General Partner       By:   /s/ John E. Bowman        

Name:  John E. Bowman

Title:    Vice President

[SIGNATURE PAGE TO INVESTOR CONSENT LETTER]

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    GSMP V ONSHORE US, LTD.       By:   /s/ John E. Bowman        

Name:  John E. Bowman

Title:    Vice President

    GSMP V OFFSHORE US, LTD.       By:   /s/ John E. Bowman        

Name:  John E. Bowman

Title:    Vice President

    GSMP V INSTITUTIONAL US, LTD.       By:   /s/ John E. Bowman        

Name:  John E. Bowman

Title:    Vice President

[SIGNATURE PAGE TO INVESTOR CONSENT LETTER]

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Agreed and acknowledged as of the first date written above:

MONEYGRAM INTERNATIONAL, INC.

By:   /s/ James E. Shields Name:   James E. Shields Title:   Executive Vice
President and CFO

[SIGNATURE PAGE TO INVESTOR CONSENT LETTER]

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ANNEX A

FOURTH SUPPLEMENTAL INDENTURE