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November 29, 2018

MoneyGram expands digital reach

US-based money transfer firm MoneyGram expands digital reach to seven new countries. The latest move expands the platform’s reach to 24 countries.

The seven countries where the platform has currently been rolled out are Estonia, Finland, Latvia, Lithuania, Malta, Slovakia and Switzerland.

Customers in these countries will now make remittances to MoneyGram locations in over 200 countries or to beneficiary’s bank accounts and mobile wallets.

Apart from these seven countries, MoneyGram.com is also available in Australia, Austria, Belgium, Canada, Denmark, France, Germany, Ireland, Italy, Netherlands, Norway, Poland, Portugal, Spain, Sweden, UK as well as the US.

With MoneyGram.com, users can check the status of transactions and also estimate transfer fees.

MoneyGram chairman and CEO Alex Holmes said: “Throughout 2018 we have successfully delivered on our strategy to expand our digital services internationally. We have increased the availability of MoneyGram.com from three markets to 24 markets in just 10 months.

“We will continue to build and deploy our digital services to offer our customers more choice and to ensure we are well positioned to compete in today’s competitive industry.”

MoneyGram said that online and mobile transactions have grown 16% on a year-on-year basis. Digital is said to generate 16% of the company’s total money transfer revenue.

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