MoneyGram expands digital service

MoneyGram is extending its global digital footprint with the launch of its award-winning online platform in five new countries.

Customers in Australia, the Netherlands, Belgium, Portugal and Austria can now send money 24/7 directly to more than two billion bank accounts and mobile wallets or to any MoneyGram location in more than 200 countries and territories.

According to World Bank’s Findex report, digital payments are on the rise. Between 2014 and 2017 the share of adults around the world making or receiving digital payments increased by 11 percent, to reach 52 percent.

“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 MoneyGramcustomers more choice when they use money transfer services, and to ensure we are well-positioned to compete in today’s fast-paced world,” said Alex Holmes, MoneyGram’s chairman and chief executive officer.

MoneyGram’s 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.com revenue grew 21 percent – primarily from new customer acquisitions following the successful launch in Spain and France.

MoneyGram online 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 now available to customers in the U.S., UK, Germany, France, Spain, Australia, the Netherlands, Belgium, Portugal and Austria.