MoneyGram expands service to five countries across the globe
International payments provider MoneyGram has announced an expansion of its digital platform to five new countries.
The service is now available in Australia, Austria, Belgium, the Netherlands and Portugal.
With the expansion, customers in these countries can send money directly to more than two billion bank accounts and mobile wallets or to any MoneyGram location in more than 200 countries and territories.
Speaking on the expansion, its Chairman and Chief Executive Officer, Alex Holmes, explained that the move was to provide customers with more options in an ever-evolving tech-driven world.
“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 MoneyGram customers more choice when they use money transfer services and to ensure we are well positioned to compete in today’s fast-paced world,” he said.
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.
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 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., the UK, Germany, France, Spain, Australia, the Netherlands, Belgium, Portugal and Austria.