MoneyGram Expands Digital Money Transfer Services in Five New Countries

MoneyGram (NASDAQ: MGI) recently announced it is extending its digital money transfer services in five new countries. According to MoneyGram, customers in Australiathe NetherlandsBelgiumPortugal, and Austria may now send money 24/7 directly to more than two billion bank accounts and mobile wallets or to any MoneyGram location in over 200 countries and territories. While sharing details about the expansion, Alex Holmes, Chairman and CEO of MoneyGram, stated:

“Innovative technology is changing the way we meet our customer’s financial needs. In 2018 and beyond MoneyGram will continue to accelerate our digital expansion around the globe. We want to give MoneyGram customers more choice when they use money transfer services and to ensure we are well positioned to compete in today’s fast-paced world.”

MoneyGram also noted its investment into new digital platforms is delivering tangible results. In the first quarter of 2018, digital revenue represented 16 percent of total money transfer revenue. At the same time, Moneygram revenue grew 21 percent primarily from new customer acquisitions following the successful launch in Spain and France.

MoneyGram offers features such as the ability to find a convenient location, check the status of transactions, and estimate online and offline transfer fees. The platform is currently available to customers in the U.S., the UK, GermanyFranceSpainAustraliathe NetherlandsBelgiumPortugal, and Austria.

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