Payment Methods

Visa Powers MoneyGram Push-To-Card P2P

MoneyGram app on smartphone

MoneyGram and Visa Direct have formed a strategic partnership to roll out a new debit card deposit service, the companies announced in a Sept. 9 press release.

The person-to-person (P2P) money transfer option offers U.S. consumers a way to send money domestically through MoneyGram to a recipient’s eligible debit card. 

“We strive to create the best possible experience for sending and receiving money, and this new product offering empowers our customers by giving them yet another way to send money to friends and family,” said MoneyGram Chairman and CEO Alex Holmes. “And in partnering with Visa, the world’s leader in digital payments, we’re providing our customers with a dependable option that they know and trust.”

Fees for the new P2P debit card deposit service start at $1.99. Currently available in the U.S. only, plans are also set for the service to expand soon to other markets outside the U.S.

“Visa and MoneyGram share a common goal of providing customers with a fast and reliable way to pay and be paid,” added Bill Sheley, senior vice president, global head of Visa Direct, Visa. “By implementing Visa Direct, companies like MoneyGram are able to offer choice, flexibility and peace of mind to customers, knowing that each transaction is backed by the security, reach and capability of Visa’s global payments network.”

MoneyGram in June announced a partnership with Canada Post to offer a digital money transfer service that allows users to complete transactions at select Canada Post locations all over the country.

“To initiate a transaction, consumers simply visit moneygram.ca, create a profile, start a transaction and choose the ‘Cash at a Location’ option,” the release said. “From there, users visit one of Canada Post’s more than 5,200 locations that offer MoneyGram services to complete their transaction. For added convenience and security, consumers can use the provided barcode, which contains their transaction details.”

MoneyGram Chief Revenue Officer Grant Lines said MoneyGram is always trying to make it easier for people to use the service.

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NEW PYMNTS DATA: HOW WE SHOP – SEPTEMBER 2020 

The How We Shop Report, a PYMNTS collaboration with PayPal, aims to understand how consumers of all ages and incomes are shifting to shopping and paying online in the midst of the COVID-19 pandemic. Our research builds on a series of studies conducted since March, surveying more than 16,000 consumers on how their shopping habits and payments preferences are changing as the crisis continues. This report focuses on our latest survey of 2,163 respondents and examines how their increased appetite for online commerce and digital touchless methods, such as QR codes, contactless cards and digital wallets, is poised to shape the post-pandemic economy.

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