Company size:  

Moneygram is a money transfer giant and has a substantial role in the history of money transfer.

The US-based business was founded in 1940 to deliver money orders. As its brand name expanded in the 80’s and 90’s, the problem of remittances became a real concern for the global economy, and there were very few competitors in the field (the biggest competitor that comes to mind is Western Union). Back in those pre-internet days, you had to have a local presence to handle anyone’s money, and Moneygram has managed to pull off that task successfully. Today, Moneygram has one of the most extensive global reach in the industry (together with WU), boasting 347,000 agents across the globe.

The company has suffered some downturns during its long history. The 2008 sub-prime crisis had hit it with a full impact crash to take its stock to oblivion, and a $100m fine for fraud a few years later hasn’t helped.

During 2017, Ant Financial  made an offer to buy Moneygram for a sum of $1.2bn. Ant Financial is a Chinese company owned by the Alibaba group (formerly named AliPay), and being that, considering the US-Chinese tensions in 2017, the deal was blocked by the U.S government. Ant Financial ended up buying indirect competitor WorldFirst.

In 2018, Moneygram announced it will be integrating Ripple into its payment system, which may be the way forward for this company. Ripple is the most payment-oriented cryptocurrency.


Regulated By: 

Almost any financial regulator across the globe, including the American SEC and the British FCA.


Conclusion: 

Moneygram are one of the biggest, strongest, and most resilient companies in the money transfer space, for good or worse. It has a fascinating history filled with glorious achievements alongside crashes and falls.