BitRss.com latest Crypto World News

Search and discover the latest Cryptocurrency updated Stories in Categories.

24-7 Cryptocurrency News about Blockchain, Technology and much more, only from Top Leading Sources.

MoneyGram Executive: Ripple’s Instant XRP Settlement Platform to Play Key Role in Digital Transformation

MoneyGram Executive: Ripple’s Instant XRP Settlement Platform to Play Key Role in Digital Transformation

Money transfer giant MoneyGram says Ripple’s native token XRP is a key part of the company’s push to grow digital remittances.
According to a new report from PaymentsSource , MoneyGram chief operating officer Kamila Chytil is focused on “expanding MoneyGram’s digital offerings and improving its operational efficiencies, for example by partnering with Ripple to use XRP for instant FX settlement.”
In the last two months, the Texas-based payments firm has seen its digital transactions surge amid the coronavirus pandemic.
In the quarter ending March 31, 2020, MoneyGram’s digital transactions grew 57% year-over-year while walk-in transactions dropped 6% year-on-year. In addition, digital transactions represented 18% of all MoneyGram remittances at the end of the first quarter.
Last month, the company’s digital transactions rose 81% year-over-year as online remittances grabbed 28% of MoneyGram transactions. However, it is still early days for MoneyGram’s integration of XRP. The company says it’s using the digital asset to power 10% of its transaction volume between Mexico and the US.

Chytil says that the boom in digital transactions is the result of the company’s early efforts to capitalize on the space.
“Previously, MoneyGram was very transaction-focused. We knew where the money was going and who was sending it, but didn’t focus on things that are key to being customer-centric… We began communicating with our digital customers in a personalized way in their own language via emails, SMS and chat. It’s been a ton of work, but it’s paying off.”
In June 2019, Ripple acquired a $50-million stake in MoneyGram to seal a strategic partnership for cross-border and foreign exchange settlements.
Check Latest News Headlines
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Fred Mantel
The post MoneyGram Executive: Ripple’s Instant XRP Settlement Platform to Play Key Role in Digital Transformation appeared first on The Daily Hodl .

BitRss.com shares this Contents always with License.

Thank you for Share!

   
Tumblr
LinkedIn
Reddit
VK
WhatsApp
Telegram

Search Crypto News


BITRSS | CRYPTOCURRENCY WORLD NEWS

The latest Top News, only from Leading exponents of BlockChain, Bitcoin and different Accredited Crypto Currency Sources.

Since 2015, our Mission was to Share, up-to-date, those News and Information we believe to represent in an Ethical and sincere manner the current Crypto Currencies World: everything you are looking for, in one place!

We have always tried to give priority to the News; for this reason we have designed BitRss.com simple and intuitive, usable by all Devices, fast and effective.


| LEARN MORE ABOUT |

24h Most Popular News

Please consider to Support BitRss.com!