Western Union Co. is reportedly making moves to acquire competitor MoneyGram. They are said to be in early-stage talks. Both companies contend with stiff competition from upstart money-transfer companies.
Western Union and MoneyGram — the two dominant players in the remittance industry — are facing price competition as companies including WorldRemit, TransferWise and Wal-Mart Stores Inc. give their customers new options for moving cash. MoneyGram reported a loss of $72 million in the first quarter, compared with a profit of $39 million in the year-earlier period.
This afternoon, Innovation Village reported that Western Union is planning to acquire MoneyGram. In this guest post, WorldRemit’s founder and CEO, Ismail Ahmed calls on regulators to block this deal unconditionally, claiming the move would have profound consequences for competition in the remittance market. Western Union is reported to be…
Global digital P2P payments company, MoneyGram has launched a new service enabling consumers to buy, sell and hold cryptocurrency via the MoneyGram mobile app. The ability to buy, sell and hold crypto using the MoneyGram app is made possible through the Company's existing partnership with Coinme, a licensed crypto exchange…
Kenya's leading telecommunications company, Safaricom, has teamed up with one of the largest money transfer companies, MoneyGram, to launch a leading mobile money transfer solution that enables consumers in over 90 countries outside Kenya to send money directly to M-PESA, Kenya’s leading mobile money transfer solution. The new offering makes it…
