MoneyGram Launches Mobile Service (Feb, 12, 2013)
Feb. 12, 2013
Money transfer provider MoneyGram has launched a mobile version of its online transfer service, which enables users to send cash via smartphones using a mobile-optimized version of moneygram.com. The service is part of Dallas-based MoneyGram’s efforts to tap into what the company claims is a $50 billion cross-border remittance industry—much of which incorporates mobile devices. The service, which initially was announced in September of last year, will integrate MoneyGram’s transfer platform with Dutch digital payments security provider Gemalto’s LinqUs Mobile Money system. Transfer recipients can receive funds at any of MoneyGram’s 284,000 worldwide locations or directly to a mobile wallet.
“We know a growing number of consumers today use their mobile devices as a primary tool to search for products and services and conduct day-to-day activities, like online banking and other financial transactions,” said Juan Agualimpia, executive vice president and chief marketing officer, MoneyGram. “Augmenting technology to add this capability to our services is a step… in creating a robust mobile channel for our current and potential customers.” Smartphone users can also use the new system to find MoneyGram locations, check transfer fees and view recent account activity.
MoneyGram enjoyed a boost in cross-border money transfers during the fourth quarter of 2012, which helped the company’s total transaction volume jump by 14 percent over the previous year. Last September, the firm added a pair of banks in Pakistan to its roster of agents in the nation, bringing the number of MoneyGram locations in the country to more than 2,500.
