We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
MoneyGram (MGI) Renews Tie-Up to Boost Middle East Presence
Read MoreHide Full Article
MoneyGram International, Inc. recently extended its long-standing relationship with Ooredoo Qatar, a well-established telecommunications operator in Qatar, in a bid to enable MoneyGram’s customers to continue using Ooredoo Money Wallet for conducting digital money transfers globally. Notably, the renewal has been extended for another five years.
Being a virtual account linked with the mobile number, Ooredoo Money Wallet allows customers to not only send money worldwide but also enables hassle-free deposit and extraction of funds.
It is worth mentioning that the relationship between MoneyGram and Ooredoo Qatar can be traced back to the year 2012, wherein the latter became the former’s first ever fully digital partner.
Moreover, the latest move is in sync with MoneyGram’s efforts to strengthen its digital footprint across the Middle Eastern market. While cash payments were predominantly used across the region and digital transformation efforts were underway, it was the COVID-19 pandemic that accelerated the demand for contactless payments. This, in turn, highlighted the immense potential present in the Middle East digital payments market. It is worth mentioning that people these days tend to prefer online shopping from the comfort of one’s home and avoid physical visit to stores in a bid to curb the virus spread. This trend has fueled penetration of several digital platforms into the region further.
Also, higher smartphone usage by the tech-savvy population and increased Internet penetration in the Middle East region have positioned its digital payments market well for long-term growth. Case in point, per Internet World Stats, the Middle East region boasts of having the fourth-highest Internet penetration rate worldwide of 70.8% in 2020. Having said that, the latest move of MoneyGram seems to be a time-opportune one considering the inclination of people in the Middle East region toward usage of mobile apps.
Shares of MoneyGram have soared 218.8% in a year against the industry’s decline of 2%.
Time and again, MoneyGram has renewed its successful relationships with leading brands in a bid to continue delivering money transfer services across worldwide. The renewals also reinforce the trust that partners have on MoneyGram, courtesy of its robust API-driven platform and enhanced customer-centric capabilities. Notably, the company’s online platform has witnessed the 13th consecutive month of triple-digit cross-border transaction growth in the direct-to-consumer digital business in January, which remains commendable. Examples of certain renewals include the five-year one with Canada Post in December 2020 for bolstering its foothold across the Canadian market. Another renewal was undertaken with the world's largest retailer, Walmart, through a three-year extension during last year in October.
Some other companies active in the digital payments space include The Western Union Company (WU - Free Report) , PayPal Holdings Inc. (PYPL - Free Report) and Square, Inc. (SQ - Free Report) .
If you’re looking for big gains, there couldn’t be a better time to get in on a young industry primed to skyrocket from $17.7 billion back in 2019 to an expected $73.6 billion by 2027.
After a clean sweep of 6 election referendums in 5 states, pot is now legal in 36 states plus D.C. Federal legalization is expected soon and that could be a still greater bonanza for investors. Even before the latest wave of legalization, Zacks Investment Research has recommended pot stocks that have shot up as high as +285.9%
You’re invited to check out Zacks’ Marijuana Moneymakers: An Investor’s Guide. It features a timely Watch List of pot stocks and ETFs with exceptional growth potential.
Image: Bigstock
MoneyGram (MGI) Renews Tie-Up to Boost Middle East Presence
MoneyGram International, Inc. recently extended its long-standing relationship with Ooredoo Qatar, a well-established telecommunications operator in Qatar, in a bid to enable MoneyGram’s customers to continue using Ooredoo Money Wallet for conducting digital money transfers globally. Notably, the renewal has been extended for another five years.
Being a virtual account linked with the mobile number, Ooredoo Money Wallet allows customers to not only send money worldwide but also enables hassle-free deposit and extraction of funds.
It is worth mentioning that the relationship between MoneyGram and Ooredoo Qatar can be traced back to the year 2012, wherein the latter became the former’s first ever fully digital partner.
Moreover, the latest move is in sync with MoneyGram’s efforts to strengthen its digital footprint across the Middle Eastern market. While cash payments were predominantly used across the region and digital transformation efforts were underway, it was the COVID-19 pandemic that accelerated the demand for contactless payments. This, in turn, highlighted the immense potential present in the Middle East digital payments market. It is worth mentioning that people these days tend to prefer online shopping from the comfort of one’s home and avoid physical visit to stores in a bid to curb the virus spread. This trend has fueled penetration of several digital platforms into the region further.
Also, higher smartphone usage by the tech-savvy population and increased Internet penetration in the Middle East region have positioned its digital payments market well for long-term growth. Case in point, per Internet World Stats, the Middle East region boasts of having the fourth-highest Internet penetration rate worldwide of 70.8% in 2020. Having said that, the latest move of MoneyGram seems to be a time-opportune one considering the inclination of people in the Middle East region toward usage of mobile apps.
Shares of MoneyGram have soared 218.8% in a year against the industry’s decline of 2%.
Time and again, MoneyGram has renewed its successful relationships with leading brands in a bid to continue delivering money transfer services across worldwide. The renewals also reinforce the trust that partners have on MoneyGram, courtesy of its robust API-driven platform and enhanced customer-centric capabilities. Notably, the company’s online platform has witnessed the 13th consecutive month of triple-digit cross-border transaction growth in the direct-to-consumer digital business in January, which remains commendable. Examples of certain renewals include the five-year one with Canada Post in December 2020 for bolstering its foothold across the Canadian market. Another renewal was undertaken with the world's largest retailer, Walmart, through a three-year extension during last year in October.
Some other companies active in the digital payments space include The Western Union Company (WU - Free Report) , PayPal Holdings Inc. (PYPL - Free Report) and Square, Inc. (SQ - Free Report) .
MoneyGram has a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Time to Invest in Legal Marijuana
If you’re looking for big gains, there couldn’t be a better time to get in on a young industry primed to skyrocket from $17.7 billion back in 2019 to an expected $73.6 billion by 2027.
After a clean sweep of 6 election referendums in 5 states, pot is now legal in 36 states plus D.C. Federal legalization is expected soon and that could be a still greater bonanza for investors. Even before the latest wave of legalization, Zacks Investment Research has recommended pot stocks that have shot up as high as +285.9%
You’re invited to check out Zacks’ Marijuana Moneymakers: An Investor’s Guide. It features a timely Watch List of pot stocks and ETFs with exceptional growth potential.
Today, Download Marijuana Moneymakers FREE >>