MoneyGram partners with Checkout.com and expands Visa debit card deposit service across Europe

By Pavithra R

MoneyGram International, a global leader in cross-border P2P payments and money transfers, has announced the expansion of its deposit service for Visa debit cards in Europe.

The expansion was launched in partnership with Checkout.com, a leading global payment solutions provider, which uses Visa Direct, Visa’s real-time “push” payment platform. Currently, MoneyGram customers can use the company’s website or mobile app to send money in near real-time to Visa debit cardholders through 575 operators in 25 countries in Europe.

“Our strategic alliances have enabled MoneyGram to create the world’s premier network, and this expansion marks another milestone in our goal to lead the evolution of digital P2P payments. Consumer demand continues to grow for real-time payment solutions that are credited directly to bank accounts and mobile wallets. So we are excited to integrate with Checkout.com, a market-leading fintech company, and continue expanding our alliance with Visa Direct. We can already see significant adhesion from customers, and we expect the service to contribute to strong digital growth in the European market this year,” said Alex Holmes, President and CEO of MoneyGram.

In 2019, MoneyGram made international transfers possible from the United States through Visa Direct. Since then, the company has strengthened its established relationship with Visa and taken advantage of the many benefits the service brings to its customers, such as speed, convenience, affordability and variety.

“We are excited to partner with MoneyGram and enable its customers to make transparent, low-cost real-time payments, as well as help fuel the momentum of their digital P2P operations. As Visa accelerates the availability of Visa Direct to merchants in Europe, Checkout.com is proud to equally empower fintech companies and merchants, helping to unlock the potential of international payments, through our Connected Payments platform based on the cloud,” said Guillaume Pousaz, CEO and Founder of Checkout.com.

“Today, more than ever, consumers have a vital need for fast, simple and secure ways to transfer money abroad for the support of their family and friends. We look forward to continuing our current relationship with MoneyGram and will make it possible through real-time payments to more people around the world,” said Nicky Alexander, director of Visa Direct for Europe.