EXHIBIT 23.1
 
               CONSENT OF ERNST & YOUNG LLP INDEPENDENT AUDITORS
   
  We consent to the reference to our firm under the caption "Experts" and to
the use of our report dated February 2, 1996 (except as to Notes 1 and 9, as
to which the date is December   , 1996) in Amendment No. 5 to the Registration
Statement (Form S-1 No. 333-228) and related Prospectus of MoneyGram Payment
Systems, Inc.     
 
 
                                          ERNST & YOUNG LLP
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  The foregoing consent is in the form that will be signed upon the completion
of the transactions and restatement of capital accounts described in Note 1 to
the audited financial statements as of and for the year ended December 31,
1995 under the caption "Formation of the Company."
                                             
                                          ERNST & YOUNG LLP     
                                                 
Denver, Colorado
   
December 4, 1996