The surge is reported to have occurred as consumers moved towards online and mobile money transfers during the COVID-19 pandemic. The figure is up from first-quarter numbers, when digital remittances were 57%. The company said the increase in digital funds transfers has continued into the month of May.
According to the company, Moneygram focused to mobilise the movement of money and accelerate the evolution of digital P2P payments. MoneyGram businesses are divided into two categories: Global Funds Transfers and Financial Paper Products. The company provides its service to individuals and businesses through a network of agents and financial institutions.
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