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MoneyGram International Sees 100% Digital Transaction Growth From Last Year

MoneyGram Enters the Indian Remittances Market 
MoneyGram Enters the Indian Remittances Market 

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MoneyGram International, Inc, “a global leader in cross-border P2P payments and money transfers,” saw a 100% increase in digital transaction growth year over year in May, according to a press release from the group. In the first quarter of 2020, the group only saw a 57% growth for the same metric.

Speaking on the matter is Alex Holmes, the MoneyGram Chairman and CEO, who said:

“I’m excited to report that our strong digital growth continued to accelerate in May, highlighting yet again the incredible progress we’ve made as an organization to focus on our strategy to lead the industry in digitizing the movement of money. Our digital business growth in May is particularly notable as we not only increased our active digital customer base, but also continued to see these new digital customers return and transact more frequently due to our seamless customer experience and global platform.”

The group attributes this growth to MoneyGram Online, some digital partnerships, and additional mobile wallet transactions and deposits, the release notes.

“Our digital transformation is demonstrating a phenomenal return on investment. We’ve built a modern, mobile, API-driven company that is resonating with millions of consumers across the globe,” says Kamila Chytil, the Chief Operating Officer of the group.

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