DALLAS, Sept. 17, 2020 /PRNewswire/ -- MoneyGram
International, Inc. (NASDAQ: MGI), a global leader in cross-border
P2P payments and money transfers, today announced 162% August
year-over-year cross-border transaction growth for MoneyGram
Online, its direct-to-consumer digital business. Strong consumer
demand for its leading digital capabilities and customer-centric
app continues to accelerate, and MoneyGram has increased its active
digital customer base, as new digital customers return and transact
more frequently due to the seamless customer experience.
"Following a record-breaking July, we continued to see
remarkable momentum in our digital business in August as we
reported triple-digit year-over-year cross-border transaction
growth for our direct-to-consumer digital business for the eighth
consecutive month," said Alex
Holmes, MoneyGram Chairman and CEO. "I'm proud our Company
has achieved these incredible results despite ongoing global
economic uncertainty. The continuation of this outperformance in
September demonstrates how consumers around the world are valuing
the speed of our digital transformation as well as our modern,
mobile, and mission-driven customer experience."
The Company's digital results were driven by an ongoing demand
for its customer-centric mobile app, high customer retention rates,
and focused account deposit digital market expansion. Aligned with
this strategic focus area, MoneyGram recently announced new mobile
wallets partnerships in Africa,
further enabling the Company to accelerate digital growth and lead
the industry in mobile money adoption across the globe. In August,
MoneyGram reported 126% year-over-year transaction growth in sends
directly to bank accounts and mobile wallets.
"Our sustained digital growth clearly demonstrates that
consumers are valuing our leading user experience and trusted
brand, and that we are taking share from other digital players,"
said Kamila Chytil, MoneyGram Chief
Operating Officer and leader of the Company's digital business.
"Over the past several years we have established ourselves as an
agile consumer driven company mobilizing the movement of money
through the world's most powerful cross-border platform."
About MoneyGram International, Inc.
MoneyGram is a
global leader in cross-border P2P payments and money transfers. Its
consumer-centric capabilities enable family and friends to quickly
and affordably send money in more than 200 countries and
territories, with more than 75 countries now digitally enabled.
MoneyGram leverages its modern, mobile, and API-driven platform
and collaborates with the world's leading brands to serve millions
of people each year through both its walk-in business and its
direct-to-consumer digital business.
With a strong culture of innovation and a relentless focus on
utilizing technology to deliver the world's best customer
experience, MoneyGram is leading the evolution of digital P2P
For more information, please visit moneygram.com and follow
View original content to download