DALLAS, Feb. 11, 2020 /PRNewswire/ — MoneyGram Worldwide, Inc. (NASDAQ: MGI), a world chief in cross-border P2P funds and cash transfers, as we speak introduced the launch of MoneyGram FastSend™, a brand new service via which customers can ship cash rapidly and simply to their good friend’s cell phone quantity by way of the MoneyGram web site and cell app. The brand new service, supported by the Visa Direct rails, permits the trade’s quickest transaction occasions and probably the most seamless cash switch consumer expertise. On this revolutionary new product, clients can ship and obtain cash in simply a few clicks.
“With the launch of the brand new FastSend service, sending cash is now as straightforward as sending a textual content,” stated Alex Holmes, MoneyGram Chairman and Chief Govt Officer. He added, “FastSend builds on the success of our extraordinarily widespread cell app and can additional MoneyGram’s main place within the evolution of digital P2P funds.”
To make use of FastSend, clients merely log in to the MoneyGram app or web site, enter the receiver’s identify and telephone quantity, and choose FastSend. A textual content is shipped to the receiver notifying them that they’ve funds instantly obtainable for deposit. The receiver then logs in, provides their debit card, and the funds are transferred into their checking account inside minutes.
Because the identify implies, FastSend offers customers a quick method to ship cash by merely sending a textual content message, with no need to enter the receiver’s checking account data. It is also inexpensive, costing simply $1.99 per transaction from debit playing cards, and affords a $10,000 restrict per transaction – a significantly increased quantity than related choices from different firms.
“Over the previous few years, we have invested in our digital enterprise to construct a fintech start-up powered by our main international model,” stated Kamila Chytil, MoneyGram Chief Working Officer and chief of the corporate’s digital initiatives. She added, “Our digital enterprise is rapidly changing into the main cross-border P2P cost answer, and we’re excited to launch FastSend to additional speed up our digital development.”
MoneyGram developed this new service as a continuation of its strategic partnership with Visa and the Visa Direct product. FastSend is at the moment obtainable for sends inside america and for sends from the U.S. to Spain. Further markets are scheduled to go reside all year long.
About MoneyGram Worldwide, Inc.
MoneyGram is a world chief in cross-border P2P funds and cash transfers. Its consumer-centric capabilities allow the short and inexpensive switch of cash to household and pals in additional than 200 international locations and territories, with over 65 international locations now digitally enabled.
The progressive MoneyGram platform leverages its main distribution community, international monetary settlement engine, cloud-based infrastructure with built-in APIs, and its unparalleled compliance program to allow seamless transfers all over the world.
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