- The Texas-based online money transfer provider MoneyGram will collaborate with the payment solutions service Checkout.com to develop a better deposit service scheme for Visa customers.
- The new arrangement will give customers of MoneyGram the chance to use a mobile app or an online service if they wish to make a payment powered by the Visa Direct platform.
- Leaders at both firms praised the new arrangement, with MoneyGram’s chief executive officer and president Alex Holmes describing it as a milestone in the firm’s creation of the “world’s premier network”.
International money transfers provider MoneyGram has announced the arrival of an enhanced deposit service in conjunction with a major international payment solutions service.
MoneyGram said that it will work alongside Checkout.com to offer new, enhanced services for those wanting to make deposits via the Visa Direct push payment service.
At the moment, MoneyGram’s clients are able to use the firm’s mobile application or online service to make a money transfer to customers who have Visa debit cards.
The service, which is close to instant in terms of timeframe, is currently offered with the cooperation of almost 600 other providers across Europe.
However, this will be expanded under the new service thanks to the partnership with Checkout.com.
In a statement, a senior leader at MoneyGram confirmed the news, and praised some of the “strategic alliances” that were already in place at the company.
Alex Holmes, who serves as chief executive officer and president of the firm, said that the most recent move with Checkout.com was a key moment in its journey.
“Our strategic alliances have enabled MoneyGram to create the world’s premier network, and this expansion marks another milestone in our goal to lead the evolution of digital P2P payments,” he said.
He added that the move reflected a path towards improved payment options.
“Consumer demand continues to grow for real-time payment solutions that are credited directly to bank accounts and mobile wallets,” he said.
Meanwhile, Checkout.com’s chief executive officer and founder Guillaume Pousaz expanded on some of the benefits of the new partnership.
He emphasised the role of transparency and cost-effectiveness in the new arrangement.
“We are excited to partner with MoneyGram and enable its customers to make transparent, low-cost real-time payments, as well as help fuel the momentum of their digital P2P operations,” he said.
MoneyGram’s relationship with Visa Direct has a strong history in recent years.
In 2019, for example, the company opened up Visa Direct payments to the US market in a bold move for the sector.
MoneyGram is, more broadly, one of the online money transfer sector’s biggest names at the moment.
The company, which is based in the US city of Dallas in Texas, has operations around the world.
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