P2P Payments: Moneygram Online Jumps 79% as Zelle Embeds into Rising Bank

Digital Banking: Zelle Exceeds 1B P2P Payments | PYMNTS.com

Dallas-headquartered MoneyGram International Inc. continues to grow its bottom line thanks in part to its digital business. According to a recent release, its online platform raked $57.4 million in Q4, up 79% YOY. 

. Real-time transactions through Visa Direct went up an impressive 650 percent. According to MoneyGram, transactions through its MoneyGram Online business jumped up 100 percent YOY. Meanwhile, revenue was up 103 percent. The company did not give exact figures. 

MoneyGram Online is a quick-rising direct-to-customer platform. Last year’s results may shine more light into the future. Its interregional online transactions and revenue jumped 143 percent in 2020’s Q4. 

According to the firm, MoneyGram Online processed a significant portion of the money-transfers. In the US, it even exceeded Walmart as the primary enabler of money-transfers in the same quarter.

On the whole, MoneyGram announced a net income of $7.3 million in Q4 of 2020. This is a dramatic comeback from the $11.9 million loss recorded in 2019. It also means that MoneyGram reduced its losses from $60.3 million in 2019 to $7.9 million.

Rising Bank Adds Zelle to Its Platform

In the meantime, Rising Bank, a section of Midwest BankCentre, has included Zelle, a peer-to-peer payments enabler, in its digital platform. Rising Bank announced Zelle’s addition to its platform while launching two other new products; mortgage loans & insurance.

Users can now enjoy Zelle to send free and instant payments through their trusted peer’s email address or mobile number. For registered recipients, the money enters the linked bank account in minutes. 

Zelle is a digital payment platform owned by Early Warning Services LLC based in Scottsdale, Arizona. Boasting over 1.2 billion transactions in 2020 and popular among consumers, the platform will indeed appeal to many Rising Bank prospects. 

“As we expand our product offerings, we believe clients also prioritize a seamless digital experience,” says Rising Bank Boss Dale Oberkfell.

“At Rising Bank, our primary goal is to streamline the banking process through a seamless customer experience that allows clients to gather long-lasting wealth with the tools they prefer.

Payment industry guru Taylor Cole is a passionate payments expert who helps retailers Find a Merchant Account for high and low-risk businesses. He also writes non-fiction on subjects ranging from personal finance to stocks to cryptopay. He enjoys eating pie with ice-cream on his backyard porch, as should all right-thinking people.