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MoneyGram Digital sees 81% growth in online consumer direct businesses.

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BANKING AND CREDIT NEWS-May 18, 2020-MoneyGram Digital sees 81% growth in online consumer direct businesses

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MoneyGram International, Inc. (NASDAQ: MGI) has announced an 81% growth in the first quarter 2020, compared to the prior year, with an increase in online consumer direct business, digital partnerships and account deposits transactions, the company said.

At the end of April, digital transactions accounted for 28% of all money transfers, and overall digital growth has been driven by the following components:

-MoneyGram Online, the largest component of the digital business, delivered 93% transaction growth in April. In some countries growth rates exceeded 1,000%, with many key markets delivering growth over 200%.

-Digital partnerships, driven by key partners in Asia Pacific and Middle East, accelerated from 25% growth in the first quarter to over 67% transaction growth in April.

-Account deposit & mobile wallet services are especially...

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