- MoneyGram (NASDAQ:MGI) +2.5% in premarket trading after signing an agreement with Visa (V) intended to streamline the process of sending and receiving money internationally.
- Visa +0.5%
- Utilizing Visa Direct, Visa's real-time push payments platform, the agreement will enable secure cross-border remittances, the companies say.
- Once live, MoneyGram's service will allow its users to choose their preferred method of sending and receiving funds.
- The initial phase of the partnership will include two priority corridors -- U.S. to Mexico and U.S to Philippines; the two companies plan later to expand the agreement to additional markets.
- Source: Press Release
- Previously: Visa and Wex team up in commercial payment sector (July 24)