MoneyGram to Refill Mobile Wallet - Analyst Blog
21 9월 2012 - 3:15AM
Zacks
MoneyGram International Inc. (MGI) announced a
strategic alliance with the globally leading digital security
provider – Gemalto – to offer money transfer solution on the
latter’s LinqUs Mobile Money payment platform.
Accordingly, MoneyGram’s customers will now be able to transfer
money from their mobile phones to any of the company’s 284,000
global locations in about 194 countries. The latest service will be
aided by Gemalto’s LinqUs Mobile Money digital wallet solution,
which will be assimilated with MoneyGram’s money transfer
platform.
The LinqUs Mobile Money helps its clients gain accesses to their
bank accounts through mobile phones, while alsomake bill payments
and also facilitate person-to-person transfers.
On the other hand, the clients of Gemalto Mobile Financial
Services, including more than 3,000 financial institutions and over
450 mobile operators in about 43 countries, will now connect to
MoneyGram’s global network directly. These convenient and secure
mobile remittance service offerings blend well with the need of the
time that warrants safe, easy and quick accessibility of money
globally.
Both the entities aim to collaborate and form an extensive
network to tap the unbanked and underbanked regions of the
underdeveloped and developing economies as well. The alliance also
lays out the possibilities of secure cross-border remittances.
MoneyGram continues to explore new growth avenues in untested
locations by incorporating latest and flexible technology that
facilitates transfers through mobile phones, prepaid cards or ATMs,
in order to speed up its money transfer services and enhance the
remittance volumes. This growth strategy also justifies
management’s guidance of 7–9% top-line growth for 2012.
The aggressive business developments are also boosting
MoneyGram’s competitive edge, particularly against the steady
global growth of its arch-rival Western Union Co.
(WU), which recently announced its foray into untapped markets of
Myanmar through an alliance with the Myanmar Oriental Bank.
MoneyGram carries a Zacks Rank #3, which translates into a
short-term Hold rating and a long-term Neutral stance.
MONEYGRAM INTL (MGI): Free Stock Analysis Report
WESTERN UNION (WU): Free Stock Analysis Report
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Western Union (NYSE:WU)
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Western Union (NYSE:WU)
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