MoneyGram International, a global specialist in cross-border P2P payments and money transfers, has announced the expansion of its Visa debit card deposit service across Europe.
The expansion has launched in collaboration with Checkout.com and will utilise Visa Direct, the firm’s real-time push payments platform.
Alex Holmes, MoneyGram Chairman and CEO, commented: “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.
“Consumer demand for real-time payments direct to bank accounts and mobile wallets continues to surge. As a result, we’re excited to integrate with a leading fintech, Checkout.com, and continue to expand our partnership with Visa Direct. We’re already seeing significant customer adoption, and we expect it to help contribute to strong digital growth in the European market this year.”
In 2019, MoneyGram was the first organisation in the industry to enable cross-border transfers from the United States using Visa Direct.
“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,” said Guillaume Pousaz, CEO and Founder at Checkout.com. “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.”
“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,” added Nicky Alexander, Head of Visa Direct, Europe. “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.”