MoneyGram International, Inc. MGI recently announced that its online platform has been gaining traction from strong customer demand, driven by its digital capabilities. This upside led to robust digital transaction growth for the company in August.
As a case in point, the company witnessed cross-border transaction growth of 162% year over year in August for MoneyGram Online, its direct-to-consumer digital business. Though this growth rate was lower than the skyrocketing 207% rise reported for July, the August reading points to the strength in cross-border business.
With the cross-border business gain in August, MoneyGram’s business momentum witnesses the eighth consecutive month of triple-digit cross-border transaction growth in its direct-to-consumer digital business, MoneyGram Online.
In order to strengthen its digital platform, MoneyGram recently announced new mobile wallets partnerships in Africa, further enabling the company to accelerate digital growth and lead the industry in mobile money adoption across the globe. Last month, MoneyGram