Consumers can now use the Company's leading
website to send funds from Brazil
in near real-time to family and friends around the world
MoneyGram is continuing to execute its
strategy to accelerate the growth and geographic expansion of
MoneyGram Online
DALLAS, Dec. 20,
2022 /PRNewswire/ -- MoneyGram International, Inc.
(NASDAQ: MGI) ("MoneyGram" or the "Company"), a global leader in
the evolution of digital P2P payments, today announced the launch
of MoneyGram Online ("MGO") in Brazil. Consumers can now use the Company's
leading website to send funds from Brazil in near real-time to family and friends
around the world. Recipients can receive money through the
Company's suite of options designed to meet their unique needs,
such as account deposit, mobile wallet, and cash pick-up from
retail locations. MoneyGram is launching this service with zero
transaction fees for consumers.
"As we continue to execute our strategy to grow and expand
MoneyGram Online geographically, I am thrilled to announce that our
website is now officially live in Brazil," said Alex
Holmes, MoneyGram Chairman and CEO. "We are extremely proud
of the immersive online platform we've built for customers around
the world, and our sustained digital growth globally demonstrates
that consumers truly value our leading user experience. We're
confident that this launch will enable us to capture growth from
new customer segments, deepen relationships with established
customers and create tremendous value for years to come."
MoneyGram already has a leading presence in Brazil with over 1,000 retail locations
throughout the country that have enabled consumers to send money
abroad for the past 25 years. The Company is committed to
continuing to meet ever-changing consumer needs, and as demand has
increasingly shifted online, MoneyGram now enables consumers in
Brazil to send money on-the-go or
from the comfort of their own homes.
According to the World Bank, outbound remittances from
Latin America have been steadily
increasing in recent years.1 In Brazil, immigration flow has increased 24% in
the past 10 years, reaching 1 million immigrants in the country in
2022.2 As demand for digital solutions increases in the
country, the Brazilian digital remittances segment is projected to
grow by nearly 10% in the next five years.3
Holmes added: "This is a significant growth opportunity for
MoneyGram to capture market share in a country with one of the
largest populations in the world. As we approach the start of the
new year, we're set up for success."
This new service is made possible through MoneyGram's
partnership with Frente Corretora, a leading financial technology
company in Brazil.
About MoneyGram International, Inc.
MoneyGram
International, Inc. (NASDAQ: MGI), a global leader in the evolution
of digital P2P payments, delivers innovative financial solutions to
connect the world's communities. With a purpose-driven strategy to
mobilize the movement of money, a strong culture of fintech
innovation, and leading customer-centric capabilities, MoneyGram
has grown to serve over 150 million people in the last five years.
The Company leverages its modern, mobile, and API-driven platform
and collaborates with the world's top brands to serve consumers
through its direct-to-consumer digital channel, global retail
network, and embedded finance business for enterprise customers.
MoneyGram is also a leader in pioneering cross-border payment
innovation and blockchain-enabled settlement. For more information,
please visit ir.moneygram.com, follow @MoneyGram on social media
and explore the website and mobile app through moneygram.com.
Media Contact
Sydney
Schoolfield
media@moneygram.com
+++
1 https://data.worldbank.org/indicator/BM.TRF.PWKR.CD.DT?locations=ZJ
2
https://agenciabrasil.ebc.com.br/radioagencia-nacional/direitos-humanos/audio/2021-12/numero-de-imigrantes-no-brasil-cresce-24-em-dez-anos
3 https://www.statista.com/outlook/dmo/fintech/digital-payments/digital-remittances/brazil
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SOURCE MoneyGram