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                                                                      Exhibit 2
 
                                [MoneyGram Logo]
 
                                                                  April 10, 1998
 
Dear Stockholder:
 
     I am pleased to report that, on April 14, 1998, MoneyGram Payment Systems,
Inc. entered into a merger agreement with Viad Corp and its wholly owned
subsidiary that provides for the acquisition of MoneyGram by Viad at a price of
$17.00 per share in cash. Under the terms of the proposed transaction, a Viad
subsidiary is today commencing a cash tender offer for all outstanding shares of
MoneyGram common stock at $17.00 per share. Following the successful completion
of the Viad tender offer, the Viad subsidiary will be merged into MoneyGram and
all shares not purchased in the Viad tender offer will be converted into the
right to receive $17.00 per share in cash in the merger.
 
     YOUR BOARD OF DIRECTORS, HAS UNANIMOUSLY APPROVED THE VIAD TENDER OFFER AND
DETERMINED THAT THE TERMS OF EACH OF THE TENDER OFFER AND THE MERGER IS FAIR TO,
AND IN THE BEST INTERESTS OF, MONEYGRAM AND ITS STOCKHOLDERS. ACCORDINGLY, THE
BOARD OF DIRECTORS UNANIMOUSLY RECOMMENDS THAT ALL MONEYGRAM STOCKHOLDERS ACCEPT
THE VIAD TENDER OFFER AND TENDER THEIR SHARES TO VIAD.
 
     In arriving at its recommendations, the Board of Directors gave careful
consideration to a number of factors described in the attached Schedule 14D-9
that is being filed today with the Securities and Exchange Commission. These
factors included the opinion of Morgan Stanley & Co. Incorporated, financial
advisors to MoneyGram, that the cash consideration of $17.00 per share to be
received by MoneyGram stockholders pursuant to the Viad tender offer and the
merger is fair from a financial point of view to such stockholders.
 
     Enclosed is MoneyGram's Solicitation/Recommendation Statement on Schedule
14D-9 and Viad's Offer to Purchase and related materials, including a Letter of
Transmittal for use in tendering shares. We urge you to carefully read the
enclosed materials, including Morgan Stanley's fairness opinion which is
attached to the Schedule 14D-9.
 
     The management and directors of MoneyGram thank you for the support you
have given the Company.
 
                                          Sincerely,
 
                                          /s/ JAMES F. CALVANO
                                          JAMES F. CALVANO
                                          Chairman of the Board and
                                          Chief Executive Officer