MoneyGram International, Inc. a global leader in cross-border P2P payments and money transfers, today reported 106% year-over-year digital transaction growth in June as strong consumer demand for its leading digital capabilities and the customer-centric app continues to grow. The company also announced the expansion of its consumer direct channel and online presence to Iceland.
“Our digital results once again highlight how consumers around the world are recognizing a ‘new’ MoneyGram that is delivering the best digital experience in the industry and providing a seamless connection to family and friends through our modern, mobile, and API-driven platform,” said Alex Holmes MoneyGram Chairman and CEO. “We’re especially encouraged by the stickiness of our digital customers who are remaining loyal to our brand, and we continue to focus on bringing our leading capabilities to more consumers in more markets.”
Each component of the digital business: MoneyGram Online, digital partnerships, and sends directly to a wallet or bank account contributed to the strong overall digital growth in June.
“In addition to the significant increase in digital transactions, our June results highlight how our digital business is helping the company return to revenue growth,” said Kamila Chytil, Chief Operating Officer and leader of the company’s digital business. “Our digital transformation has significantly improved every part of the company, and our agile investment approach continues to demonstrate results.”