MoneyGram International is expanding its use of Visa Direct across Europe, allowing its customers to use the company website or mobile app to send money in near-real time to Visa debit card holders in various parts of 25 countries in Europe.
Dallas-based
"Our strategic partnerships have enabled MoneyGram to create the world's leading network, and this expansion is another milestone on our journey to lead the evolution of digital P2P payments," Alex Holmes, MoneyGram chairman and CEO, said in a Friday press release. "Consumer demand for real-time payments direct to bank accounts and mobile wallets continues to surge."
That trend makes the integration with Checkout.com important in bringing Visa Direct capabilities to the new market corridors, Holmes added.
"We are excited to partner with MoneyGram to bring low-cost, real-time, transparent payouts to their consumers and help power their global digital P2P momentum," Guillaume Pousaz, CEO and founder at Checkout.com, said in the release. "As Visa accelerates the availability of Visa Direct to merchants in Europe, Checkout.com is proud to power fintechs and merchants alike, helping to unlock the potential of the cross-border payments opportunity, through our cloud-based enterprise Connected Payments platform."
The companies consider the new service a significant milestone for remittances in Europe, which is one of the largest "send" markets.
"Now more than ever, consumers have a vital need to access fast, simple and secure ways to move money across borders to support their friends and family overseas," Nicky Alexander, head of Visa Direct, Europe, said in the release. "We look forward to continuing our ongoing relationship with MoneyGram as we make this possible through real-time payments to more people around the world."
Of the 200 countries MoneyGram serves, 89 are now digitally enabled, allowing the company to leverage its mobile and API-driven platform.
By engaging with Visa Direct, MoneyGram said it has been able to build on that relationship and deliver various advantages to customers through speed, convenience, affordability and choice.
