DALLAS, July 18, 2018 /PRNewswire/ -- MoneyGram (NASDAQ: MGI) is extending its global digital footprint with the launch of its award-winning online platform in five new countries. Customers in Australia, the Netherlands, Belgium, Portugal and Austria can now send money 24/7 directly to more than two billion bank accounts and mobile wallets or to any MoneyGram location in more than 200 countries and territories.
According to World Bank'sFindex report, digital payments are on the rise. Between 2014 and 2017 the share of adults around the world making or receiving digital payments increased by 11 percent, to reach 52 percent.
"Innovative technology is changing the way we meet our customer's financial needs. In 2018 and beyond MoneyGram will continue to accelerate our digital expansion around the globe. We want to give MoneyGram customers more choice when they use money transfer services and to ensure we are well positioned to compete in today's fast-paced world," said Alex Holmes, MoneyGram's chairman and chief executive officer.
MoneyGram's investment into new digital platforms is delivering tangible results. In the first quarter of 2018, digital revenue represented 16 percent of total money transfer revenue. At the same time, Moneygram.com revenue grew 21 percent primarily from new customer acquisitions following the successful launch in Spain and France.
MoneyGram online offers features such as the ability to find a convenient location, check the status of transactions, and estimate online and offline transfer fees. The platform is now available to customers in the U.S., the UK, Germany, France, Spain, Australia, the Netherlands, Belgium, Portugal and Austria.
About MoneyGram International
MoneyGram is a global provider of innovative money transfer and payment services and is recognized worldwide as a financial connection to friends and family. Whether online, or through a mobile device, at a kiosk or in a local store, we connect consumers any way that is convenient for them. We also provide bill payment services, issue money orders and process official checks in select markets. More information about MoneyGram International, Inc. is available at moneygram.com.
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This press release contains forward‐looking statements, which may include projections of future results of operations, financial condition or business prospects. Actual results of operations, financial condition or business prospects may differ from those expressed or implied in these forward‐looking statements for a variety of reasons, including but not limited to market demand, global economic conditions, adverse industry conditions, legal proceedings, the ability to effectively identify and enter into new markets, governmental regulation, the ability to retain management and other personnel, and other economic, business or competitive factors. Additional information concerning factors that could cause results to differ materially from those in the forward-looking statements is contained from time to time in MoneyGram's SEC filings. The forward‐looking statements in this release reflect the current belief of MoneyGram as of the date of this release. MoneyGram undertakes no obligation to update these forward‐looking statements for events or circumstances that occur subsequent to such date.
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