Cross-border transactions company MoneyGram has expanded its Visa debit card deposit service across Europe in a new collaboration with Checkout.com, Europe’s most valuable privately owned FinTech.
By tapping into the payment solution provider’s platform, MoneyGram has now empowered its customers to use Moneygram’s website or mobile app to send money in near real-time to Visa debit card holders across 575 corridors from 25 countries in Europe.
“Our strategic partnerships have enabled MoneyGram to create the world’s leading network, and this expansion is another milestone on our journey to lead the evolution of digital P2P payments,” said Alex Holmes, chairman and CEO at Moneygram.
“Consumer demand for real-time payments direct to bank account and mobile wallets continues to surge. As a result, we’re excited to integrate with a leading fintech, Checkout.com, and continue to expand our partnership with Visa Direct. We’re already seeing significant customer adoption, and we expect it to help contribute to strong digital growth in the European market this year.”
Guillaume Pousaz, CEO and founder at Checkout.com, added, “We are excited to partner with MoneyGram to bring low-cost, real-time, transparent payouts to their consumers and help power their global digital P2P momentum. As Visa accelerates the availability of Visa Direct to merchants in Europe, Checkout.com is proud to power fintechs and merchants alike, helping to unlock the potential of the cross-border payments opportunity, through our cloud-based enterprise Connected Payments platform.”
Checkout.com claimed the title of being Europe’s most valuable FinTech earlier in January after securing a $450m Series C funding round at a $15bn valuation.
The raise saw Klarna become the second most valuable FinTech company on the continent. The Swedish buy now pay later venture raised a $650m funding round in September at a $10.65bn valuation.
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