MoneyGram has established an intense relationship with the Ripple network. Allowing an investment of 11 million dollars is evidence of their strong bond. Ripple has spent 8.9 dollars for MoneyGram for the use of the XRP token. This relationship has seen a long journey with an investment of $50 million from June 2019. MoneyGram would also require a new corridor to use XRP, but further project-related information is still not accessible in the media. This also involves the Visa Direct movement of money easily conceived about by the blockchain technology.
Now MoneyGram’s new interest is google and amazon. From the recent announcement, we have completely aware that google and amazon are focusing on the peer to peer transaction for the payment system. MoneyGram which serves as a trusted and secure platform for the global P2P transaction now will be working with Google and Amazon.
MoneyGram International, Inc. is focusing on developing a better solution for the digital transaction in all over the world. The platform is driven to build up the API efficient technology for the digital transfer to provide the feasible experience to the clients.
MoneyGram will now be dealing with the Amazon Web Services and Google cloud. To ease the customer experiences these to bigger chain have now looking for the blockchain solution for cutting down the expenses. Blockchain no doubts considerably best solution to reduce the expenses in any platform. These two major platforms now trying to build the blockchain platform with the help of MoneyGram.
MoneyGram’s official statement said “MoneyGram is integrating with the leader in cloud-based applications, AWS, to bring scale to the company’s transaction processing engine. Additionally, MoneyGram is using Google Cloud as its data and analytics engine to better understand customer behaviour and deliver a more personalized experience.”
The Amazon Web Services (AWS) is trying to achieve a blockchain-based payment transfer mode to faster the process of the transaction and also deduct the service charge. In the other hand google cloud program aligned to the blockchain protocol to tract the customer behaviour. This process will be reflecting the massive growth in future which will attract more client to these platforms.
MoneyGram’s Chief operating officer, Kamila Chytil, said, “Our digital transformation has enabled the company to streamline its operations and significantly reduce expenses.”
She also stated that “Over the last few years, we’ve invested in the latest, cutting-edge technologies to build an agile organization ready to scale.
No part of the business has been left untouched by our digital transformation as we’ve worked tirelessly to build a modern, mobile, and API-driven platform and expand our direct to consumer digital capabilities to over 67 countries”
It should be remembered that the second year of its multi-cloud strategy to increase versatility is also helping the organization to reduce costs.
The partnership with AWS increases the size of its computing system. The use of Google Cloud as a data and analytics engine will also allow them to understand the competences of their customers in-depth and better, which in turn will help them to provide them with personalized experiences. The organization also helps it to streamline its activities through several measures taken for digital transformation.
MoneyGram’s Business growth is quite impressive now conducting over 65 countries to send or receive money from different channels. This platform is enriched with the service of 22% of the total money transfer. Also, MoneyGram’s new device has got a massive response from the user. The user-friendly mobile platform is able to reach to clients in the easiest way to build up a user-centric easy transfer. Now MoneyGram is focusing on the various platform to explore the blockchain opportunity and getting ready to compete with other fintech companies.
MoneyGram is a well-established company that is able to face the chance of market opportunities. Any chance that might lead to confusion is worthwhile. The financial and technical system of MoneyGram works together to improve the network in the business. Current partnerships such as Google and Amazon are the company’s most critical development initiative. Such two financial and tech companies trust the MoneyGram approach and the business has a strong reputation to serve their customers well.
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