Moneygram And Walmart Launch Money Transfer Platform
Zacks Investment Research | Sep 06, 2016 10:13PM ET
Moneygram International Inc. (NASDAQ:MGI) recently joined forces with Wal-Mart Stores Inc. (NYSE:WMT) to introduce a new state-of-the-art online money transfer platform, Walmart.moneygram.com. The new platform would offer customers better features and easier online money transfer experience.
The upgraded website makes use of Moneygram's new cutting-edge MTaaS (Money Transfer as a Service) platform. The online money transfer platform offers third party solution to strategic business partners who seek to connect with customers through a more user-friendly site that can be branded and updated easily. The new website will provide various innovative features to customers, which include guest sending, transfer tracking and many more. The site can also be used to remit money to any of Moneygram's estimated 350,000 locations as well as bank accounts worldwide.
This ultra-modern online money transfer platform is a strategic extension of the two decade long, successful relationship between Moneygram and Walmart. The companies have joined forces time and again to serve customers with smooth, convenient and premium quality financial services. Moneygram's chief marketing officer and Walmart's senior leader, Juan Agualimpia, called the new offering “a testament to our combined commitment to our customers.”
Walmart remains focused on maximizing customer value though the fastest and cheapest services. Hence, the partnership with Walmart is expected to provide Moneygram with a new digital experience of providing flawless solutions to customers shopping at Walmart. We expect the aforesaid deal to further strengthen Momeygram’s customer base and assure long-term growth for the Zacks Rank #3 (Hold) miscellaneous financial service provider. It also reflects Moneygram’s consistent investments for digitalization.
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