MoneyGram sees digital remittance surge in April
MoneyGram International Inc. reported in a company release that digital transactions rose by 81% during the month of April as consumers moved towards online and mobile money transfers during the COVID-19 pandemic.
The figure is up from first-quarter numbers, when digital remittances were 57%. The company said the increase in digital funds transfers has continued into the month of May.
"We've been on a mission to mobilize the movement of money and accelerate the evolution of digital P2P payments," Alex Holmes, chairman and CEO of MoneyGram, said in the release. "Over the last few years, we've invested heavily in our digital transformation by building the best digital customer experience in the industry and then rapidly launching those capabilities to new markets."