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Last Updated : Jan 16, 2020 08:22 PM IST | Source: Moneycontrol.com

MoneyGram reports a return to Global Transaction Growth in December

Global money transfer transactions increased 2% year-over-year, with international transaction growth accelerating to 9%.

MoneyGram International leader in P2P payments and money transfers, has announced a return to global transaction growth for the month of December.

The company reported a 2 percent year-over-year increase in number of transactions, driven by strong performance from both its global consumer direct digital business and its international walk-in business.

"We've been focused on digitizing each customer touchpoint and these results highlight how consumers are increasingly valuing the investments we've made as part of our digital transformation," said Alex Holmes, MoneyGram Chairman and CEO.

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"Consumers are seeing a 'new' MoneyGram and, as a result, our online customer retention rates have improved significantly. We're excited about the building momentum behind our consumer-centric capabilities," he added.

The company also announced that MoneyGram customers sent the largest number of international transactions ever in the month of December. The company previously disclosed that 60 percent of its money transfer revenue is now generated from its international business, which continues to accelerate the company's revenue diversification strategy as part of its digital transformation.

MoneyGram remains focused on leading the industry in seamlessly connecting senders and receivers. By digitizing each customer touchpoint and creating a digitally-enabled back-office infrastructure to support its global operations, the company aims to provide a highly-personalized experience for fast and affordable global money transfers.

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First Published on Jan 16, 2020 08:22 pm
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