Former Ripple Partner MoneyGram Gained 33% Growth in Digital Payments in Q2
MoneyGram Gained lots of surge in their revenue because of the boost of cross border transactions through their platforms. They gained an overall 18% surge in their growth.
Recently the Stellar foundation shows his willing to buy MoneyGram. Since this news was not official but according to a Bloomberg report, Stellar foundation was willing to acquire MoneyGram. But the current growth of MoneyGram claims that they are not going to shop their platform.
Related: Stellar Foundation Reportedly Wants To Acquire MoneyGram
On 30 July During the earnings calls, company chief Alex Holmes stated that, San-Francisco-based remittance giant, MoneyGram gained a huge boost in digital transactions.
The overall gain in the transactions surged by around 33%. And the volume of the cross border Digital payment transaction surged by around 41%. They considered that it is due to the Covid-19 pandemic situation & also because of the adoption of Digital Payments options by their customers.
The overall growth in the transactions is around 18% in the Q2 of this year. they made around $239.3 million revenues.
MoneyGram online delivered record highs for customers, transactions, volume and revenue.”
Holmes
As previously we reported that the Steller foundation wants to acquire MoneyGram. But this huge growth of MoneyGram boosted the confidence of executives to run their platform at a high level. And also the company claimed that they are not going for any kind of shopping their firm for now or they don’t want to give their rights to any private company.
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