MoneyGram Achieves Record Online Transaction Growth In Holiday Season

(RTTNews) - MoneyGram International Inc. (MGI) announced Monday record-breaking online transaction growth during the holiday shopping season from its MoneyGram-branded online platforms.

Between December 1 and December 25, MoneyGram-branded online platforms reported transaction growth of more than 70 percent on a year-over-year basis, with 80 percent of online transactions initiated on a mobile device.

Outside of the US, online transactions during the holiday period increased nearly 120 percent on a year-over-year basis. Globally, all of the Company's major online markets achieved double-digit transaction growth during the holiday period.

With evolving consumer behaviors driven by an estimated 3.2 billion smartphone users in addition to changing global migration flows, MoneyGram has focused on product and channel diversification by investing in both its digital business and in key international markets.

MoneyGram launched its re-designed app in late 2018, and since then, the app has achieved over 1.6 million downloads.