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MoneyGram expands Visa Direct service to Spain, Philippines

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December 6, 2019

MoneyGram International Inc., a provider of money transfer services, Wednesday announced the expansion of its debit card deposit service internationally to Spain and the Philippines. 

MoneyGram initially launched the service last year in collaboration with Visa through Visa Direct, a real-time push payments platform. It is the first company in the industry to enable cross-border transfers from the U.S. using Visa Direct, and plans to expand the service to other countries in coming months, according to a company press release. 

"This is an exciting time for us as our business transformation continues to move at a rapid pace as we seek to accelerate digital growth and deliver a streamlined customer experience," Alex Holmes, MoneyGram chairman and CEO, said in the release. 

Visa Direct lets customers send money in real time. MoneyGram customers can use the app or the MoneyGram website to send funds to other recipients' eligible Visa-branded debit cards.

The MoneyGram launch of Visa Direct internationally comes on the heels of the launch of Visa Direct in the U.S. where about 50% of users are brand new to MoneyGram, Visa said in the release.