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July 20, 2018

MoneyGram extends digital reach to five new countries

MoneyGram, a US-based money transfer company, has introduced its online platform in Australia, the Netherlands, Belgium, Portugal and Austria.

Customers in these five countries can transfer funds to more than 200 countries and territories directly to the beneficiary’s bank accounts, mobile wallets or any MoneyGram location.

With this expansion, the online platform is available in ten countries including the US, UK, Germany, France, and Spain.

MoneyGram chairman and CEO Alex Holmes said: “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.”

In the first quarter of 2018, the company’s share of digital revenue constituted 16% of total money transfer revenue.

Moneygram.com’s revenue increased 21% in the same period. The company attributed the growth to expansion in new markets such as Spain and France, as well as new customer acquisitions.

 

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