MoneyGram expands P2P cross border solution with Visa Direct

MoneyGram International,a global provider of innovative money transfer services, has expanded its debit card deposit service, in collaboration with Visa’s real-time push payments platform, Visa Direct.

The deposit service is now available to Spain and the Philippines and the firm claims to be the first company in the industry to enable cross-border transfers from the United States using Visa Direct.

“This is an exciting time for us as our business transformation continues to move at a rapid pace as we seek to accelerate digital growth and deliver a streamlined customer experience,” noted Alex Holmes, MoneyGram Chairman and CEO. 

“Cross-border digital growth is a key strategic priority, and we will continue to lead the industry with innovative products and services.”

MoneyGram revealed the service is expected to expand into two other countries in the future and it follows Visa Direct’s US launch.

Visa Direct enables payments to over a billion cards worldwide in real time. MoneyGram users can transact funds access to other recipients’ eligible Visa-branded debit cards via the company’s app or website.

“We are committed to supporting the best possible cross-border money transfer experience for consumers and businesses around the world,” said Bill Sheley, SVP and Global Head of Visa Direct, Visa. 

“The initial launch phase with MoneyGram has been a success. Based on customer feedback to date and seamless integration of Visa Direct into MoneyGram’s digital network, we look forward to continuing the rapid expansion of this service to new markets worldwide.”