Ripple-backed MoneyGram Seals A Deal With Visa

MoneyGram is in the news again these days. A while ago, we were reporting that according to Ripple’s global institutional markets team’s leader, Breanne M. Madigan, the partnership between Ripple and MoneyGram considerably boosted the XRP trading volume.

XRP trading volume, boosted by MoneyGram

Back in August, it was reported that citing the statistics on CryptoCompare, Breanne Madigan stated that the XRP (XRP) pair with the Mexican Peso shows an ascending trend.

“New (and notable) data shows that although overall XRP trading volume was down nearly 65%, XRP/MXN volumes on Bitso went up more than 25% – during the same period of time that MoneyGram payments into Mexico using XRP went live. A real use case driving real volume,” said Madigan.

On August 2nd, MoneyGram stated that it launched xRapid, Ripple’s XRP-based platform for almost instant cross-border payments, across all its money remittance services.

MoneyGram reveals a new debit card deposit service

Now, MoneyGram which you may recall that Ripple invested $30 million in has just revealed a new debit card deposit service with Visa.

It’s been reported that the service works with Visa’s real-time payments platform, VisaDirect and this will allow MoneyGram customers to transfer money to more than a billion Visa cards via MoneyGram.

It’s also worth noting that MoneyGram users will be able to send money to the debit card via the MoneyGram application or via the official website.

It’s important to remember that the cost of this service starts at $1.99 per deposit, as reported by the online publication Decrypt.co.

Decrypt reports that “Visa and MoneyGram share a common goal of providing customers with a fast and reliable way to pay and be paid,” said Bill Sheley, Global Head of Visa Direct.”

In order to learn more about this deal, we recommend that you head over to the original article on Decrypt.co.

In other news, recently XRP has been seeing increased adoption.


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