DALLAS, Feb. 11, 2020 /PRNewswire/ -- MoneyGram
International, Inc. (NASDAQ: MGI), a global leader in cross-border
P2P payments and money transfers, today announced the launch of
MoneyGram FastSend™, a new service through which consumers can send
money quickly and easily to their friend's mobile phone number via
the MoneyGram website and mobile app. The new service, supported by
the Visa Direct rails, enables the industry's fastest transaction
times and the most seamless money transfer user experience. In
this revolutionary new product, customers can send and receive
money in just a couple of clicks.
"With the launch of the new FastSend service, sending money is
now as easy as sending a text," said Alex
Holmes, MoneyGram Chairman and Chief Executive Officer. He
added, "FastSend builds on the success of our extremely popular
mobile app and will further MoneyGram's leading position in the
evolution of digital P2P payments."
To use FastSend, customers simply log in to the MoneyGram app or
website, enter the receiver's name and phone number, and select
FastSend. A text is sent to the receiver notifying them that they
have funds immediately available for deposit. The receiver then
logs in, adds their debit card, and the funds are transferred into
their bank account within minutes.
As the name implies, FastSend gives users a fast way to send
money by simply sending a text message, without needing to input
the receiver's bank account information. It's also affordable,
costing just $1.99 per transaction
from debit cards, and offers a $10,000 limit per transaction – a considerably
higher amount than similar offerings from other companies.
"Over the last few years, we've invested in our digital business
to build a fintech start-up powered by our leading global brand,"
said Kamila Chytil, MoneyGram Chief
Operating Officer and leader of the company's digital initiatives.
She added, "Our digital business is quickly becoming the leading
cross-border P2P payment solution, and we're excited to launch
FastSend to further accelerate our digital growth."
MoneyGram developed this new service as a continuation of its
strategic partnership with Visa and the Visa Direct product.
FastSend is currently available for sends within the United States and for sends from the U.S.
to Spain. Additional markets are
scheduled to go live throughout the year.
About MoneyGram International, Inc.
MoneyGram is a global leader in cross-border P2P payments and
money transfers. Its consumer-centric capabilities enable the quick
and affordable transfer of money to family and friends in more than
200 countries and territories, with over 65 countries now digitally
enabled.
The innovative MoneyGram platform leverages its leading
distribution network, global financial settlement engine,
cloud-based infrastructure with integrated APIs, and its
unparalleled compliance program to enable seamless transfers around
the world.
For more information, please visit moneygram.com
MoneyGram Media Contact:
Noelle Whittington
media@moneygram.com
214-979-1402
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SOURCE MoneyGram International, Inc.