“XRP Will Play Key Role”: Ripple Statement by MoneyGram Authority
According to a new report by PaymentsSource, MoneyGram operations chief Kamila Chytil said they are focused on “expanding MoneyGram’s digital offerings and improving operational efficiency using XRP”.
Over the past two months, the Texas-based payment company has experienced an increase in its digital transactions with a coronavirus pandemic.
In the first quarter ended March 31, 2020, MoneyGram’s digital transactions grew by 57% annually, while physical transactions decreased by 6%. Digital transactions also accounted for 18% of all MoneyGram transfers at the end of the first quarter.
Digital transactions increased with Ripple
Last month, the company’s digital transactions rose 81% year on year; online transfers covered 28% of MoneyGram transactions. However, MoneyGram’s XRP integration is still very new. The company said it uses digital assets to power 10% of the transaction volume between Mexico and the US.
Chytil, the explosion in digital transactions; He said it was a result of the company’s early efforts to enter this field. He also used the following statements:
“Previously, MoneyGram was more transaction oriented. We knew where and to whom the money was going, but we did not focus on the things needed to be customer-oriented … Then we started to communicate with our digital customers in a personalized way through e-mails and SMS. Although it was challenging, we got its return. ”
In June 2019, Ripple signed a strategic partnership with MoneyGram and invested $ 50 million in the company.