Ripple's Partner MoneyGram Now Uses Visa Direct to Enable Instant Cross-Border Payments
Ripple-backed MoneyGram becomes the first company in the industry to enable Visa Direct-powered international payments from the US
An industry first Visa Direct is a real-time payment service that lets its customers send money directly to one's bank account with the help of push payment technology.
It powers such popular payment apps as Square and Venmo.
as well as nearly half of all payments that are made by the users of Uber and Lift, the two ride-hailing behemoths.
In its press release, MoneyGram proudly states that lets US residents transfer funds using Visa Direct. As of now, the company's customers can make cross-border payments to Spain and the Philippines, but more countries are expected to be added in the future.
"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," said Alex Holmes, MoneyGram Chairman and CEO.
MUST READ Ripple Unlocks $225 Mln Worth of XRP, Crypto Community Fears Another Price Drop Ripple Unlocks $225 Mln Worth of XRP, Crypto Community Fears Another Price Drop A need for innovations As reported by U.
Today, blockchain monolith Ripple now controls a 15 percent stake in MoneyGram after finalizing its $50 mln investment.
The marriage of MoneyGram and Ripple could help the former find a path to profitability by caving in to blockchain disruption.
They O.G. money transfer company reported a $7 mln loss in its Q3 earnings report.
After a successful start in Mexico, MoneyGram is expected to use Ripple's On-Demand Liquidity (ODL) in other regions such as Europe and Australia.
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An industry first Visa Direct is a real-time payment service that lets its customers send money directly to one's bank account with the help of push payment technology.
It powers such popular payment apps as Square and Venmo.
as well as nearly half of all payments that are made by the users of Uber and Lift, the two ride-hailing behemoths.
In its press release, MoneyGram proudly states that lets US residents transfer funds using Visa Direct. As of now, the company's customers can make cross-border payments to Spain and the Philippines, but more countries are expected to be added in the future.
"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," said Alex Holmes, MoneyGram Chairman and CEO.
MUST READ Ripple Unlocks $225 Mln Worth of XRP, Crypto Community Fears Another Price Drop Ripple Unlocks $225 Mln Worth of XRP, Crypto Community Fears Another Price Drop A need for innovations As reported by U.
Today, blockchain monolith Ripple now controls a 15 percent stake in MoneyGram after finalizing its $50 mln investment.
The marriage of MoneyGram and Ripple could help the former find a path to profitability by caving in to blockchain disruption.
They O.G. money transfer company reported a $7 mln loss in its Q3 earnings report.
After a successful start in Mexico, MoneyGram is expected to use Ripple's On-Demand Liquidity (ODL) in other regions such as Europe and Australia.
Follow me on
Twitter: https://twitter.com/cryptoexpert20
IF you be an admin for your telegram group you can order from the link
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