MobilityOne Ltd rockets over 1000% on winning MoneyGram Malaysia contract

frank lamjus

MobilityOne Ltd () shares were highly mobile in Wednesday afternoon trading, skyrocketing almost 1,200% from 4.5p to above 58p after winning a contract with US money transfer giant MoneyGram Payment Systems.

The AIM-listed, Malaysia-headquartered ecommerce infrastructure specialist’s 50%-owned remittance business, OneTransfer Remittance (OTR), will act as one of MoneyGram’s correspondence remittance companies in Malaysia for an initial five years.

Under the deal, OTR customers will be able to send and receive money via MoneyGram’s global platform which connects to more than 200 countries worldwide, with OTR entitled to a share of the fees generated on money transfer transactions as well as a share of MoneyGram’s foreign exchange profits.

MobilityOne shares have finally topped their 12.5p IPO price, 13 years after coming to AIM.

1.10pm: Melrose wilts

Shares of  () wilted 18% to below 100p after the owner of aerospace and automotive engineer decided not to pay a half-year dividend. 

The

Read More

MoneyGram Partners with Digital Financial Services to Offer eWallet Services in UAE

frank lamjus

Partnership will enable global cross-border peer-to-peer payments for eWallet subscribers

DALLAS, June 25, 2020 /PRNewswire/ — MoneyGram International, Inc. (NASDAQ: MGI), a global leader in cross-border P2P payments and money transfers, today announced a partnership with Digital Financial Services LLC, a joint venture of Etisalat and also Noor Bank, which was acquired earlier this year by Dubai Islamic Bank. The partnership enables millions of eWallet customers to make cross-border money transfers in real-time to friends and family in over 200 countries and territories through an expansive network of mobile wallet operators, bank account deposit services, and walk-in locations. 

MoneyGram Logo (PRNewsfoto/MoneyGram)
MoneyGram Logo (PRNewsfoto/MoneyGram)

“Etisalat, like MoneyGram, has digitized its business to adapt to the increasingly tech-savvy lifestyles of its customers in the UAE,” said Grant Lines, Chief Revenue Officer at MoneyGram. “We’re excited about how this partnership builds upon our strong momentum in the Middle East market and further

Read More

Elrond Mainnet Launches With a New Bitcoin-like Token Model and Maiar App

frank lamjus

Elrond’s mainnet has successfully launched, ushering in an era of high-speed dApps and scalable crypto payment technology. The blockchain’s developers have wasted no time in refining components of Elrond’s architecture, starting with an enhanced token model. Elrond has also announced details of the first app to go live on its mainnet, available on mobile devices. Maiar is an easy-to-use application that facilitates ERD transactions between users, and will offer features such as staking, lending and progressive security. The app launched on July 30 for early sign-ups and will fully open to the public within the next month.

Traditional payment stocks are already feeling the competitive pressure brought by the newcomers like Elrond. Last month Western Union (NYSE:WU) made an offer to buy MoneyGram in order to be able to better compete with the digital payment start-ups. Western Union hopes that joining its network of tens of thousands of agent locations

Read More

Ripple paid $15.1 million in XRP incentives to MoneyGram in Q2 2020

frank lamjus

Ripple paid its partner MoneyGram $15.1 million in XRP incentives in the second quarter of 2020.

MoneyGram revealed the figure in its Q2 earnings report published on Thursday. The Nasdaq-listed firm said Ripple paid $15.1 million, but $6.3 million was offset by related transaction and trading expenses, leaving $8.8 million as a net benefit.

MoneyGram categorizes Ripple payouts as “market development fees” and “contra expense” rather than revenue. The firm receives these incentives in XRP based on the volume it does via Ripple’s On-Demand Liquidity (ODL) platform.

The Q2 incentives are a tad lower than the previous quarter figure of $16.6 million.

MoneyGram does not hold any XRP it receives from Ripple. “We sell XRP as soon as we receive it,” a MoneyGram spokesperson told The Block earlier this year.

Ripple and MoneyGram partnered in June 2019 to leverage XRP in forex settlements as part of MoneyGram’s cross-border payment process.

Read More

MoneyGram International Reports Second Quarter 2020 Results

frank lamjus

DALLAS, July 30, 2020 /PRNewswire/ — MoneyGram International, Inc. (NASDAQ: MGI) today reported financial results for its second quarter ending June 30, 2020.

Second Quarter 2020 Business Highlights 

“We had a very strong quarter and materially outperformed on both the top and bottom-line, despite the continued global uncertainty from the COVID-19 pandemic,” said Alex Holmes, MoneyGram Chairman and CEO. “In June we returned to year-over-year revenue growth on strong money transfer transaction growth of 10%. This return to growth was driven by the rapid expansion of our digital business as well as the continued improvement of our walk-in business. Additionally, the resurgence of growth from the money transfer business, along with agile management of the business throughout the crisis enabled us to deliver year-over-year Operating Income and Adjusted EBITDA growth for the quarter.”

Holmes added: “We’re excited about the underlying momentum in our business driven by our

Read More

Digital Financial Services partners with MoneyGram to offer eWallet services in the UAE | News

frank lamjus

Digital Financial Services LLC has partnered with MoneyGram to offer international remittance services in the UAE.

Digital Financial Services LLC is a joint venture between Etisalat and Noor Bank and was acquired earlier this year by Dubai Islamic Bank.

With this partnership, eWallet customers can make international money transfers in real-time to friends and family in over 200 countries and territories worldwide through an expansive network of mobile wallet operators, bank account deposit services, and over 350,000 walk-in locations.

“eWallet continues to be an innovative solution that uplifts the way UAE residents conduct financial transactions today. Our partnership with MoneyGram will further enrich our consumers with the state-of-the-art customer service experience which MoneyGram is renowned for and will boost our future expansion plans,” said Ahmed Al Awadi, chairman of Digital Payment Services.

Regulated and licensed by the Central Bank of the UAE, eWallet is a revolutionary digital payment service aimed

Read More

Is Moneygram International (MGI) a Great Growth Stock?

frank lamjus

Growth stocks can be some of the most exciting picks in the market, as these high-flyers can captivate investors’ attention, and produce big gains as well. However, these can also lead on the downside when the growth story is over, so it is important to find companies which are still seeing strong growth prospects in their businesses.

One such company that might be well-positioned for future earnings growth is Moneygram International, Inc. MGI. This firm, which is in the Financial – Miscellaneous Services, saw EPS growth of 55.3% last year, and is looking great for this year too.

In fact, the current growth estimate for this year calls for earnings-per-share growth of 36.2%. Furthermore, the long-term growth rate is currently an impressive 15%, suggesting pretty good prospects for the long haul.

Moneygram International, Inc. Price and Consensus

 

Moneygram International, Inc. Price and Consensus | Moneygram International, Inc. Quote

And if

Read More

MoneyGram’s New Tie-Up to Bolster Presence in South Korea

frank lamjus

MoneyGram International, Inc. MGI recently collaborated with Global Money Express Co., Ltd (“GME”), which has emerged as a leading money transfer company in South Korea.

The partnership enables GME to have access to MoneyGram’s API-driven platform, which has a strong distribution network spanning across more than 200 countries and territories. Apart from offering enhanced services to its clients in South Korea, teaming up with MoneyGram is also likely to boost GME’s global payout coverage. Further, South Korean customers who send money to China and South Asia are likely to gain significantly from the new collaboration. Apart from benefiting GME, the tie up is likely to drive MoneyGram’s digital business as well.

In fact, this is not the first time that MoneyGram is partnering with leading Korean fintech companies. Last month, it tied up with another money transfer and payment fintech company in Korea — E9Pay. Notably, MoneyGram already has a

Read More

MoneyGram Benefits From Robust Digital Transactions in June

frank lamjus

MoneyGram International, Inc. MGI recently announced that its API-driven online platform has been gaining from strong customer demand driven by its digital capabilities. This has led to robust digital transaction growth for the company in June.

Case in point, MoneyGram witnessed digital transaction growth of 106% year over year last month. Strength of the company’s direct to consumer channel – MoneyGram Online, digital partnerships and increased account deposit and mobile wallet transactions primarily drove digital growth in June. The reported figure for June is even higher than the record-breaking digital transaction growth of 100% in May.

Following the COVID-19 outbreak, the company’s digital transactions gained further momentum as more customers opted for digital channels for payment purposes. This is clearly evident from MoneyGram’s digital business, which witnessed year-over-year surge of 81% in April from 57% growth reported in first-quarter 2020.

Shares of this Zacks Rank #3 (Hold) company have gained

Read More

MoneyGram Ties With E9Pay to Tap Korean Remittance Market

frank lamjus

MoneyGram International, Inc. MGI has tied up with E9Pay, one of the largest money transfer and payment fintech companies in Korea. Per the partnership E9Pay, customers will be able to utilize MoneyGram platform and distribution network which spans more than 200 countries and territories.

This new facility will be much beneficial to consumers who send money between Southeast Asia, Russia, and the Commonwealth of Independent States (CIS), which are the main corridors for E9Pay. Customers will also have access to MoneyGram’s account deposit services.

E9Pay is best suited for MoneyGram, to expand in Korea, given the former’s loyal base of avid customers.

MoneyGram already has a presence in Korea given its partnership with Woori Bank, Shinhan Bank, Korea Post, Kyongnam Bank, and Sentbe.
Via these tieups MoneyGram is eying the Korean remittance market worth approximately $13.4 billion in annual remittance outflows, per the World Bank.

This partnership is going to

Read More