DALLAS, April 15, 2021 /PRNewswire/ -- MoneyGram
International, Inc., a global leader in the evolution of digital
P2P payments, today announced MoneyGram Online (MGO) recorded an
all-time high in cross-border transactions as well as 131% growth
in year-over-year cross-border transactions for the month of March.
This marks the fifteenth consecutive month of triple-digit growth
for MGO. This continuing growth has been driven by consumer demand
for the Company's leading mobile app as it sustains strong app
download growth rates and continues to experience strong customer
retention rates.
"It's thrilling to see MoneyGram hit this growth milestone in
our direct-to-consumer digital business," said Alex Holmes, MoneyGram Chairman and Chief
Executive Officer. "Our investments in digital and our commitment
to building direct relationships with consumers have enabled the
company to capture market share. The growth in monthly active MGO
app users is outpacing the competition, and we remain focused on
scaling our digital business by fostering a customer-centric
culture, elevating our digital experience, and executing our
purpose-driven strategy to mobilize the movement of money."
In addition to delivering the industry's best customer
experience through its app, MoneyGram has continued to hit digital
milestones and break records by focusing its strategy on rapidly
expanding its digital capabilities internationally, targeting new
customer segments, and growing its digital footprint through
partnerships with leading brands such as Visa Direct. In the month
of March, the Company reported an all-time high in Visa Direct
transactions with 545% year-over-year growth.
Holmes concluded: "Our innovation is winning with consumers and
driving significant momentum in our business. Our growing digital
channel has established the foundation for MoneyGram's long-term,
sustainable growth, and profitability."
About MoneyGram International, Inc.
MoneyGram is
leading the evolution of digital P2P payments. With a
purpose-driven strategy to mobilize the movement of money, a strong
culture of fintech innovation, and leading customer-centric
capabilities, MoneyGram has grown to serve nearly 150 million
people across the globe over the last five years.
The Company leverages its modern, mobile, and API-driven
platform and collaborates with the world's leading brands to serve
consumers through MoneyGram Online (MGO), its direct-to-consumer
digital business, its global retail network and its emerging
embedded finance business for enterprise customers, MoneyGram as a
Service.
For more information, please visit ir.moneygram.com and follow
@MoneyGram.
Media Contact
Stephen
Reiff
media@moneygram.com
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SOURCE MoneyGram