- Award-winning digital service now available in five new countries
- Expansion part of an industry-wide trend in exploring mobile and online payment solutions
- Company's investment in digital platform is already having a positive impact on revenue
International payments provider MoneyGram has announced an expansion of its digital platform to five new countries. The award-winning service is now available in Australia, Austria, Belgium, the Netherlands and Portugal, bringing the international total to 10.
Existing digital access locations include Germany, France, Spain, the UK and the US.
MoneyGram's announcement is indicative of a wider trend in the money transfer services industry. An increasing number of companies are embracing digital payment solutions as consumer demand for these services continues to increase.
According to World Bank data, the number of adults sending or receiving remittances digitally increased by more than 11% globally between 2014 and 2017.
"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 MoneyGram CEO Alex Holmes.
The MoneyGram digital payments service provides customers with added speed and convenience when sending or receiving international payments. The online platform makes it easy to search for brick-and-mortar MoneyGram agents, check transaction statuses and estimate fees both online and offline 24/7.
MoneyGram has been investing in digital technology for some time and it has already paid dividends. The company reported a significant increase in digital revenue share in 2018, as well as overall revenue growth driven by new customer accounts.
For more on using MoneyGram to send payments abroad, read our comprehensive broker review here.
