Remittance firm MoneyGram International has introduced a new referral programme that offers discounts to users on new referrals.
Charges will be waived off for consumers making a payment for the first time after getting a referral.
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The referrer gets a 50% discount on their next payment fee after the new user completes a transaction.
The initiative is aimed at driving the growth of the firm’s direct-to-consumer digital business.
The programme has been launched in all countries with MoneyGram Online, which reported 39% transaction growth on a year-over-year basis in Q4 2019.
The growth was attributed to strong international performance.
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By GlobalDataMoneyGram COO Kamila Chytil said: “Data across industries show the power of peer recommendations and word-of-mouth referrals to grow a customer base and increase revenue.
“In fact, many leading consumer brands have leveraged referral programmes as their primary mechanism to scale their business.
“Given our strong customer retention rates and leading app rating, it’s clear customers are excited about our digital properties. With the launch of our referral programme, these customers can now receive rewards as they continue to share these positive experiences with peers.”
MoneyGram chairman and CEO Alex Holmes said that the referral programme aligns with its strategy to ramp up digital growth.
