DALLAS, Jan. 28, 2020 /PRNewswire/
-- MoneyGram International, Inc. (NASDAQ: MGI), a
global leader in cross-border P2P payments and money transfers,
announced today that it is partnering with Industrialbank, to
create a new bank deposit service in Ukraine. MoneyGram is the first company in the
industry to enable consumers to send money directly to any
receiver's bank account in the country.
"MoneyGram is in the middle of a global transformation," said
Alex Holmes, MoneyGram Chairman and
Chief Executive Officer. "As the company evolves to meet the
changing needs of consumers around the world, we're focused on
accelerating digital growth through the expansion of account
deposit capabilities to new markets. Our new partnership with
Industrialbank in Ukraine is one
of a number of recent partnership signings that highlight our
ongoing strategic investments to upgrade and expand our service in
key receive markets."
Available at more than 400 banks across the globe, the MoneyGram
account deposit service is easy and reliable. Customers simply
enter the information required for the sender and receiver at the
point of sale and then select the bank deposit option. In
Ukraine, funds are available in
the receiver's bank account the same day if sent within Ukrainian
business hours, otherwise will be available on the following
business day with no back-end fees and low, locked-in exchange
rates.
"Industrialbank is one of the leading banks in the Ukraine.
Its success on the foreign markets and focus on improving customer
services for the Ukrainian market have led to providing the new
account deposit product for Ukraine, which has no equivalent in the CIS. I
am grateful for the MoneyGram and Industrialbank teams for
implementing such a project," said Mykhailo Bukreev, Chairman of
the Board of Industrialbank.
According to World Bank data, Ukraine received a record of more than
$14 billion in 2018, up about 19
percent over what the country received in 2017. As the largest
remittance recipient in Europe and
Central Asia region, this new
service should help give the country a more convenient and easy way
to gain access to funds and greater financial inclusion.
About MoneyGram International, Inc.
MoneyGram is a global leader in cross-border P2P payments and
money transfers. Its consumer-centric capabilities enable the quick
and affordable transfer of money to family and friends in over 200
countries and territories, with over 65 countries now digitally
enabled.
The innovative MoneyGram platform leverages its leading
distribution network, global financial settlement engine,
cloud-based infrastructure with integrated APIs, and its
unparalleled compliance program to enable seamless transfers around
the world.
For more information, please visit moneygram.com.
MoneyGram Media Contact:
Noelle Whittington
media@moneygram.com
214-979-1402
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SOURCE MoneyGram International, Inc.