DALLAS, Oct. 13, 2020 /PRNewswire/ -- MoneyGram
International, Inc. (NASDAQ: MGI), a global leader in cross-border
P2P payments and money transfers, today announced another
impressive month of digital growth in September. The Company
delivered 161% year-over-year cross-border transaction growth for
MoneyGram Online, its direct-to-consumer digital business, marking
its ninth consecutive month of triple-digit growth. This growth
continues to be driven by strong consumer demand for the Company's
leading mobile app and a full suite of leading digital capabilities
available in over 75 countries.
"Over the past few months, we have continued to drive a
phenomenal increase in monthly active users on our leading app, as
our customers remain loyal to our unmatched user experience and
continue to refer their friends and family to the trusted MoneyGram
brand," said Alex Holmes, MoneyGram
Chairman and CEO. "Our relentless focus on improving our
customer-centric capabilities from product improvements, to
innovative customer acquisition campaigns and our loyalty program,
enables us to offer the most seamless cross-border P2P money
transfer experience in the industry."
As a result of the pandemic starting to rapidly spread in early
2020, numerous organizations projected annual remittance flows
would decline materially. In contrast to these predictions,
MoneyGram has reported a sizable uptick in global money transfers,
particularly in its direct-to-consumer digital business as a result
of the Company's ongoing digital transformation to build the
world's best modern, mobile, and API-driven money transfer
platform.
"We continue to prioritize investments in digital capabilities
and user experience improvements to further enhance our
consumer-focused digital transformation," said Kamila Chytil, MoneyGram Chief Operating
Officer and leader of the Company's digital business. "As
COVID-19 and its ongoing impact on everyday life continues to
create a new normal, we've increased our efforts on our
direct-to-consumer digital business and our results continue to
flourish."
About MoneyGram International, Inc.
MoneyGram is a
global leader in cross-border P2P payments and money transfers. Its
consumer-centric capabilities enable family and friends to quickly
and affordably send money in more than 200 countries and
territories, with more than 75 countries now digitally enabled.
MoneyGram leverages its modern, mobile, and API-driven platform
and collaborates with the world's leading brands to serve millions
of people each year through both its walk-in business and its
direct-to-consumer digital business.
With a strong culture of innovation and a relentless focus on
utilizing technology to deliver the world's best customer
experience, MoneyGram is leading the evolution of digital P2P
payments.
For more information, please visit moneygram.com and follow
@MoneyGram.
Media Contact:
Stephen
Reiff
Media@MoneyGram.com
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SOURCE MoneyGram