Competitor Profile: MoneyGram

Competitor Profile: MoneyGram

Summary

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 48 currencies. The money can be transferred online through bank accounts, credit cards, and debit cards, as well as in the form cash payments at any of MoneyGram’s retail agent locations. The service is available at over 350,000 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 company’s money order services enable 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.

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, including its revenue model
- The company's important events and milestones

Scope

- In 1988, MoneyGram Payment Systems Inc. was formed as a subsidiary of Integrated Payment Systems Inc.
- In 1998, Viad Corp - the parent company of Travelers Express - acquired MoneyGram Payment Systems Inc. and merged both the businesses to form MoneyGram.
- In 2004, MoneyGram was spun-off from its parent company Viad Corp to be established as a separate public company.
- In September 2019, MoneyGram introduced a new debit card deposit service in collaboration with Visa. The service will leverage Visa’s real-time push payments platform Visa Direct to enable domestic money transfers to debit card holders in the US.

Reasons to buy

- Gain insights into MoneyGram's business operations and key events.
- Gain insights into its product portfolio and revenue model.
- Assess the competitive dynamics in the alternative payments industry by comparing its performance against competitors.