MoneyGram pushes through goals amidst shareholder suit


Andrea Barnes
Andrea is Communications Manager at FXcompared. Prior to joining FXcompared, she worked as a communications consultant for companies seeking guidance with their social media, marketing and digital… Read more
  • MoneyGram launches a new app in the United States and 14 other countries
  • The ‘December to Remember’ promo is a yearly activity for the money transfer company
  • 2018 has been a fruitful year for MoneyGram as it reported overall growth

Despite facing a court case, international money transfer giant MoneyGram is pushing through with its plans to expand its client base and retain its loyal customers.

Just last week in Sierra Leone, the brand announced that a total of 20 customers in the country can win in their 'December to Remember' promo. The annual promotion is a way to encourage people to transfer money internationally or within the country, according to MoneyGram. Those who send money to friends and relatives will also be included in the raffle.

The company’s executives told local media that customers who send or receive money during the promo period get the chance to win shopping vouchers. The management in Sierra Leone also noted that this is their way of giving back to loyal customers.

News about the promo was released on the same week that the brand launched its mobile app for American consumers. Based on MoneyGram’s data, the United States is the remittance company’s largest send market. According to the United Nations Population Division, the United States has the largest immigrant population in the world. Numbers from 2015 show that there are 47 million immigrants in the US.

Fourteen additional countries now also have access to the new app based on a news report published by Newswire. This includes France, Spain, the United Kingdom, Australia, Austria, Germany, Belgium, Ireland, Denmark, Italy, Norway, Portugal, Sweden, and the Netherlands. All countries can send money to anyone in over 200 countries and territories.

The app has biometric identification, transfer tracking, and a location finder. Apart from this, it also makes it possible for customers to have an idea how much the overseas transfer rates are before going ahead with their transaction.

The app is a welcome development to many of the brand’s customers. “More than 70% of our online transactions are made on a mobile device”, says MoneyGram CEO and Chairman Alex Holmes. “It’s critical that the consumers who use their smartphones to transact with us have a product that provides an exceptional customer experience. We believe the new MoneyGram app is the best app in the industry”, Holmes adds.

The app is not the only product that MoneyGram has been working on though. MoneyGram also launched its online platform in 21 markets, a move that strengthens the brand’s position in the industry. The year 2018 has been a good year for the remittance company as it grew its already huge network and developed its native app.

The promotions, the new app, and the other activities of the company in the past week are a sign of the brand’s commitment to its customers, observers say. MoneyGram is facing a shareholder class lawsuit after shareholders lost money from their investment.

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