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MoneyGram up in premarket action after pact with Visa on overseas money transfers

Jul. 24, 2018 8:58 AM ETMoneyGram International, Inc. (MGI) StockBy: Liz Kiesche, SA News Editor2 Comments
  • 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)

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