MoneyGram FastSend Could Take Off Due to Coronavirus

While coronavirus is causing turmoil throughout global markets and businesses there could be some unintended benefits; MoneyGram’s FastSend could find some benefits from the uncertainty as it allows for people to send money for a small fee through the MoneyGram website; though most of their business is still based on walk-ins to storefronts their business has been becoming more digital for the last few years; FastSend is built on Visa Direct rails and MoneyGram says it is the industry’s fastest transaction; “FastSend has been in the market for about two weeks and it’s taking off tremendously quickly,” said Alex Holmes, MoneyGram’s Chairman and CEO, to Forbes. “Our vision is to be a leader in cross border P2P and FastSend enables us to be the first company to use it for cross border payments.” Forbes

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