Consumers can now use the Company's leading
website and mobile app to send funds from Chile to family and
friends around the world
As digital transactions now account for over
50% of the Company's money transfer business, growth continues to
be driven by demand for its direct-to-consumer offering
DALLAS, April 27,
2023 /PRNewswire/ -- MoneyGram International,
Inc. (NASDAQ: MGI) ("MoneyGram" or the "Company"), a leading
global financial technology company that connects the world's
communities, today announced the launch of MoneyGram Online ("MGO")
in Chile. Consumers can now use
the Company's leading website and mobile app to send funds from
Chile to family and friends around
the world. MoneyGram is initially launching this service with zero
transaction fees for consumers.
"We're thrilled to officially launch MGO in Chile, one of the largest send markets in
South America," said Alex Holmes, MoneyGram Chairman and CEO. "As
consumer interest in online options and real-time payments
continues to accelerate, we're committed to investing in the global
expansion of our direct-to-consumer digital offering. After our
recent successful launch in Brazil, we are especially excited about our
strong momentum in the region."
For the past 25 years, MoneyGram has enabled consumers in
Chile to send money globally
through its vast network of retail locations throughout the
country. A key remittance corridor, Chile's estimated migrant population of 1.5
million sent approximately $762
million abroad in 2021. Now, as demand increasingly shifts
online, MoneyGram is addressing the needs of the Chilean market's
new and evolving digital consumer through the launch of MGO.
"Through my conversations with customers around the world, I've
learned that there is a story behind every money transfer sent to a
loved one back home," said Anna
Greenwald, MoneyGram Chief Operating Officer. "And with that
story, there is also a unique situation that may affect how someone
needs to send or receive funds. As we continue to scale our leading
website and mobile app, we're proud to empower consumers in
Chile to choose the option that
best meets their needs."
As announced earlier this week, Seth
Ross has been named Chief Digital Officer at MoneyGram,
where he will lead the Company's global digital strategy and
continued expansion of its direct-to-consumer business.
Additionally, MoneyGram announced that digital transactions now
account for over 50% of its money transfer business, meeting that
goal well ahead of the Company's target date in 2024.
Ross concluded: "As this phenomenal growth has been primarily
driven by demand for the Company's industry-leading mobile app –
which continues to deliver returns on investment and drive strong
customer lifetime value – I'm excited to spearhead our efforts to
introduce this service to more and more consumers around the
world."
About MoneyGram International, Inc.
MoneyGram
International, Inc. is a global financial technology company that
enables consumers and businesses to move and manage money in nearly
every country around the world. Through its expansive set of
fintech offerings, MoneyGram provides millions of consumers
annually the ability to seamlessly send money home to family and
friends, store money in mobile wallets, and buy, sell and hold
cryptocurrencies on its industry-leading app. The Company's
innovative cross-border platform enables its customers to send
funds directly into bank accounts and mobile wallets or cash-in and
cash-out more than 135 currencies and numerous cryptocurrencies
through one of the largest cash distribution networks in the world.
Modern, mobile and API-driven, MoneyGram's white-labeled remittance
service also provides some of the world's top brands and
organizations the ability to disburse funds directly to their
consumer clients. Based in Dallas
and known for its strong corporate culture globally, MoneyGram has
been named a recipient of the Top Workplaces USA award for two consecutive years, an honor
based entirely on employee feedback.
Media Contact
Sydney
Schoolfield
media@moneygram.com
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SOURCE MoneyGram