MoneyGram Reports Record 207% July Year-Over-Year Cross-Border Transaction Growth in its Direct-to-Consumer Digital Business MoneyGram Online
"Even in these challenging times, we delivered record digital transaction growth in July that accelerated to 124%," said
Overall year-over-year July digital transaction growth of 124% and digital revenue growth of 109% was driven by the following components:
- MoneyGram Online, the Company's direct-to-consumer channel, delivered 126% year-over-year transaction growth in July, led by cross-border transaction growth of 207% as strong adoption of the
MoneyGramapp continues to grow in markets around the world;
- Digital partnerships delivered 101% year-over-year transaction growth in July, an acceleration from 97% year-over-year transaction growth in the second quarter
- Account deposit and mobile wallet transactions increased 165% in July, which is an acceleration from the second quarter where the Company reported 148% year-over-year transaction growth. Growth has been driven by markets such as
Indiawhere sends to bank accounts increased more than 320% compared to the prior year.
"Led by the industry's best mobile app and leading partnership platform, our digital business is generating tremendous value for customers and shareholders alike," said
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 70 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.
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