DALLAS, Sept. 9, 2019 /PRNewswire/ --
MoneyGram (NASDAQ: MGI), a global provider of innovative money
transfer services, today announced the launch of a new debit card
deposit service in partnership with Visa (https://usa.visa.com/)
via Visa Direct, Visa's real-time1 push payments
platform, which enables payments to over a billion cards
worldwide.
The person-to-person (P2P) money transfer option allows
customers in the U.S. to conveniently send money domestically
through the MoneyGram app or via the MoneyGram website to other
U.S. recipients' eligible debit cards. The new service reflects
MoneyGram's commitment to make it easy for customers to send and
receive money any way that is convenient for them.
"We strive to create the best possible experience for sending
and receiving money, and this new product offering empowers our
customers by giving them yet another way to send money to friends
and family," said Alex Holmes,
MoneyGram chairman and CEO. "And in partnering with Visa, the
world's leader in digital payments, we're providing our customers
with a dependable option that they know and trust."
"Visa and MoneyGram share a common goal of providing customers
with a fast and reliable way to pay and be paid," added Bill
Sheley, Senior Vice President, Global Head of Visa Direct, Visa.
"By implementing Visa Direct, companies like MoneyGram are able to
offer choice, flexibility and peace of mind to customers, knowing
that each transaction is backed by the security, reach and
capability of Visa's global payments network."
Pricing for the debit card deposit service starts at
$1.99 and allows customers to
transfer funds to a bank account linked to the eligible debit card
at any time, including weekends and holidays. Currently available
in the U.S. only, plans are also set for the service to expand soon
to other markets outside the U.S.
About MoneyGram International, Inc.
MoneyGram is a global leader in omnichannel money transfer and
payment services that enables friends and family to safely,
affordably, and conveniently send money for life's daily needs in
over 200 countries and territories.
The innovative MoneyGram platform leverages its leading digital
and physical network, global financial settlement engine,
cloud-based infrastructure with integrated APIs, and its
unparalleled compliance program that leads the industry in
protecting consumers.
For more information, please visit moneygram.com.
MoneyGram Media Contact:
Noelle Whittington
media@moneygram.com
214-979-1402
1 Actual fund availability depends on receiving
financial institution and region. Visa requires fast-funds enabled
issuers to make funds available to their recipient cardholders
within a maximum of 30 minutes of approving the transaction. Please
refer to the Visa Direct team and the Visa Direct Original Credit
Transaction Global Implementation Guide for more information.
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SOURCE MoneyGram