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MoneyGram launches FastSend service, enhances user experience

MoneyGram International, Inc., a provider of cross-border P2P payments and money transfers, has announced the launch of MoneyGram FastSend, a new service for users to transact money via the MoneyGram website and mobile app. The new service is a result of the company’s partnership with Visa and the Visa Direct product.

“With the launch of the new FastSend service, sending money is now as easy as sending a text. FastSend builds on the success of our extremely popular mobile app and will further MoneyGram’s leading position in the evolution of digital P2P payments,” said Alex Holmes, MoneyGram Chairman and Chief Executive Officer.

FastSend is supported by Visa Direct rails and offers improvements in transaction times and user experience. The company describes the process as follows: customers will have to log in to the MoneyGram app or website and enter the receiver’s name and phone number and select the FastSend option. The receiver will be notified with a text message on the reception of funds and can log in and add their debit card for the fund to be transferred to the bank account. The process does not require the receiver’s bank account information. The service is currently available within the U.S. and for sends from the U.S. to Spain.

“Over the last few years, we’ve invested in our digital business to build a fintech start-up powered by our leading global brand. Our digital business is quickly becoming the leading cross-border P2P payment solution, and we’re excited to launch FastSend to further accelerate our digital growth,” said Kamila Chytil, MoneyGram Chief Operating Officer and leader of the company’s digital initiatives.

MoneyGram is a provider of innovative money transfer and payment services. Its services are available in 200 countries and territories.

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