8-K

                           UNITED STATES
                SECURITIES AND EXCHANGE COMMISSION
                       Washington, DC  20549
                                 
                                 
                                 
                             FORM 8-K
                                 
                                 
                          CURRENT REPORT
                                 
                                 
                                 
                  Pursuant to Section 13 or 15(d)
              of the Securities Exchange Act of 1934
                                 
                                 
                                 
                   Date of Report:  May 22, 1998
                                 
                                 
                                 
                                 
                             VIAD CORP
      (Exact name of registrant as specified in its charter)



      DELAWARE                     001-11015        36-1169950
(State or other jurisdiction of    (Commission   (I.R.S. Employer
incorporation or organization)     File Number)  Identification No.)


1850 N. CENTRAL AVE., PHOENIX ARIZONA             85077
(Address of principal executive offices)        (Zip Code)


Registrant's telephone number, including area code (602) 207-4000



ITEM 5. OTHER EVENTS.

        In a press release dated May 26, 1998, Viad Corp ("Viad")
        announced its successful tender offer for MoneyGram
        Payment Systems, Inc. ("MoneyGram"), at $17.35 per share.
        The cash tender offer, which commenced on April 10, 1998,
        closed on Friday, May 22, 1998, with a sufficient number
        of shares tendered to result in the acquisition of
        MoneyGram.  According to the Depository for the offer,
        11,155,362 shares of common stock of MoneyGram were
        tendered, including 1,489,874 shares tendered by notice of
        guaranteed delivery, representing approximately 67.6
        percent of the shares outstanding as of the close of
        business on May 22, 1998.  A total of 5,358,438 shares
        were not tendered.

        A copy of the press release is attached as Exhibit 99 to
        this report.
       
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.

        (c)  Exhibits.

             99   Press Release

                            SIGNATURES

Pursuant to the requirements of the Securities and Exchange Act of
1934, the registrant has duly caused this report to be signed on
its behalf by the undersigned hereunto duly authorized.


                                        VIAD CORP
                                        By: /s/ Richard C. Stephan
                                        --------------------------
                                        Richard C. Stephan
                                        Vice President - Controller


DATE: May 29, 1998

EX-99

                                                EXHIBIT 99

VIAD CORP SUCCESSFULLY COMPLETES 
TENDER OFFER FOR MONEYGRAM
__________

MoneyGram To Become Part of Travelers Express 

PHOENIX, Ariz., May 26, 1998 - Viad Corp (NYSE:VVI) 
announced today the cash acquisition of MoneyGram Payment 
Systems, Inc. (NYSE:MNE) at a price of $17.35 per share.  
Moneygram, one of the nation's leading money wire transfer 
companies, will become a part of Viad's wholly owned subsidiary, 
Travelers Express Company of Minneapolis, the nation's largest 
money order company.
	
"MoneyGram is a great, great strategic fit with Travelers Express," 
said Robert H. Bohannon, Viad's chairman, president and chief 
executive officer.  "There are numerous synergies between the two 
companies that will accelerate expansion of our payment services 
business.  MoneyGram gives us instant access to the billion dollar 
global wire transfer market, as well as providing cross-marketing 
opportunities for both money order and money wire transfer 
products. This acquisition also furthers our major drive to expand 
Viad's core businesses and extend our leadership in each business 
sector in which we operate."   

The tender offer, which commenced on April 10, 1998, was 
completed on Friday, May 22.  Viad was tendered a sufficient 
number of shares to complete the transaction.  According to the 
Depository for the offer, 11,155,362 shares of common stock of 
MoneyGram were tendered, including 1,489,874 shares tendered 
by notice of guaranteed delivery, representing approximately 67.6 
percent of the shares outstanding as of the close of business on 
May 22, 1998.  A total of 5,358,438 shares were not tendered.

Headquartered in Lakewood, Colo., MoneyGram was formed in 
1988 and today operates in more than 100 countries, with its 
strongest presence in the wire transfer of money from the U.S. to 
Mexico.  The wire transfer market has been growing 20 to 
30 percent per year for the last ten years.   

Philip W. Milne, president and chief executive officer of Travelers 
Express said, "Combining our 50,000 retail locations with 
MoneyGram's 22,000 locations provides a tremendous opportunity 
for marketing our products.  This is a big step in our long-term 
strategy to provide a comprehensive package of financial services 
for consumers and financial institutions."

James F. Calvano, MoneyGram's chairman and chief executive 
officer, said, "We are excited about the combination of these 
complementary businesses and the positive distribution and 
technology expertise Travelers Express will bring to our business.  
In like manner, our global presence and strong brand awareness 
will assist Travelers Express to grow in new markets.  It's a great 
opportunity for us both."

Viad Corp is a $2.5 billion S&P MidCap 400 services company with 
interests in payment services, airline catering, convention services, 
and travel and leisure.  Headquarters are in Phoenix, Ariz.

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