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MoneyGram Online announces business growth

Thursday 19 March 2020 05:23 CET | News

MoneyGram International has reported nearly 60% year-over-year transaction growth for MoneyGram Online year-to-date through February 2020.

This marks an acceleration from the fourth quarter of 2019 where the global provider of cross-border P2P payments and money transfers reported 39% transaction growth. Importantly, these trends are continuing in March 2020, according to the official press release.

Growth has been driven by both US - outbound and international corridors. Thus, US - outbound transactions for MoneyGram-branded Online achieved triple-digit transaction growth of 101% through February 2020 year-to-date, and 37% revenue growth over the same period, which is an acceleration from 8% revenue growth in the fourth quarter of 2019.

International transactions for MoneyGram Online achieved 116% year-over-year growth and revenue growth of 70% February 2020 year-to-date, which is also an acceleration from what was previously reported.

Over 80% of the company's digital transactions are now done on a mobile device and the company's investments to deliver the industry's best user experience have led to digital transactions now accounting for 23% of money transfer transactions February 2020 year-to-date, which is an acceleration from what was reported in the fourth quarter of 2019.
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Keywords: digital transformation, P2P payments, mobile payments, money transfers, API platform, MoneyGram Online, MoneyGram International, US
Categories: Banking & Fintech | Payments General
Countries: United States
This article is part of category

Banking & Fintech