- Online platform open to certain European countries
- Website facilitates cross-border payments from France and Spain
Customers sending international payments from France and Spain can now take advantage of MoneyGram's award-winning digital platform, MoneyGram.com. The expanded service makes it easier for users in those countries to send funds abroad to more than 200 countries and territories all over the world with a few simple clicks from a smartphone or mobile device.
MoneyGram's digital services accounted for an impressive 15% of its total transfer revenue in the third quarter of 2017. Driven by new user registrations, MoneyGram.com grew 23% from last year, and the company hopes to continue this momentum by expanding online offerings to a wider European market, beyond Germany and the UK.
According to MoneyGram's estimates, almost 60% of internet users in Europe send money abroad using an online platform, and the digital money transfer industry is experiencing dramatic growth. This is certainly something the company would like to capitalize on.
“The launch of MoneyGram.com in France and Spain is a part of MoneyGram's strategy to offer our customers convenient options to send money their way," said MoneyGram's Chief Revenue Officer, Grant Lines.
The digital money transfer service lets customers send cash for pickup at any of MoneyGram's physical locations worldwide, as well as allowing direct deposits to more than 2.4 million mobile, virtual or traditional bank accounts in 48 countries across the globe.
MoneyGram.com is available in English-Spanish and English-French and offers users features like a convenient brick-and-mortar outlet finder, transaction status checks, and transfer fee estimates for both online and offline transactions.
Based on the most recent data from World Bank, France and Spain are typically "send" countries for remittances, accounting for $20.7bn and $16.5bn in 2016 outflows, respectively.
MoneyGram.com is available now to users in France and Spain.
