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MoneyGram - Competitor Profile

May 2021 | 18 pages | ID: M58E028283C8EN

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MoneyGram - Competitor Profile


MoneyGram is one of the world’s largest cross-border money transfer payment companies. Founded in 1988, the company provides money transfer and payment solutions globally in 200 countries and territories and in over 47 currencies. Money can be transferred online through bank accounts, credit cards, and debit cards, as well as in the form of cash payments at any of MoneyGram’s retail agent locations. The service is available at over 410,000 locations globally.

Aside from money transfers, customers can pay utility bills, healthcare bills, and car notes; check their bill payment history; and send money orders. The latter service enables customers to send money orders from a network of 40,000 MoneyGram agent locations.

In addition, MoneyGram has been offering outsourcing services to financial institutions since 1979. It offers a full suite of services spanning inventory management, real-time updates, and daily balancing and reconciliation.

In March 2021, MoneyGram launched MoneyGram as a Service for enterprise customers, allowing them to connect with MoneyGram’s platform via APIs and develop new product offerings. Following this launch, MoneyGram has partnered with US-based financial services provider Sigue to further enhance MoneyGram as a Service. The partnership will allow MoneyGram to further expand its payment processing capabilities.

The report provides information and insights into MoneyGram including -
  • Detailed insight into its business
  • Comprehensive coverage of its products and services
  • Comparative assessment with key alternative payment solutions
  • Information on its performance
  • The company's important events and milestones
  • In 1988, MoneyGram Payment Systems Inc. was formed as a subsidiary of Integrated Payment Systems Inc.
  • In May 2010, MoneyGram partnered with Visa to launch MoneyGram’s first cash-to-card Visa program, enabling consumers to transfer money from MoneyGram locations in the US directly to the Visa accounts of recipients outside the country.
  • In July 2015, MoneyGram launched the MoneyGram bill payment service within its mobile app.
  • In February 2020, MoneyGram launched a new digital money transfer service called MoneyGram FastSend. The service enables consumers to send money to the recipient’s mobile phone number via the MoneyGram website and mobile app.
  • Gain insights into MoneyGram's business operations and key events.
  • Gain insights into its product portfolio.
  • Assess the competitive dynamics in the alternative payments industry by comparing its performance against competitors.
Performance Highlights
Revenue Model
Products & Services
Significant Events
Supporting Global Partners

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