Ripple Partner MoneyGram Launches New Initiative With Uber


Ripple partner and global payments giant MoneyGram is partnering with Uber to support drivers and delivery couriers who rely on digital payments to send money around the world. Wage earners on Uber’s platform, including the Driver app, Uber Eats, Uber Freight and Uber Works, are now eligible for discounts on digital money transfers.

MoneyGram is extending the discounts to Uber participants who send money to family and friends in over 200 countries and territories, with the program initially rolling out in the US, Canada, Australia and the UK.

The global payments giant, which focuses on cross-border payments and money transfers, is focused on expanding the digital economy through its strategic partnerships and by tapping companies that can have the greatest impact on digital transfers.

According to Alex Holmes, MoneyGram chairman and chief executive, the partnership will serve people who frequently send money home to friends and family.

An Uber spokesperson says the spread of coronavirus has been particularly challenging for people who drive and deliver food and other goods.

Kamila Chytil, MoneyGram chief operating officer and leader of the company’s digital efforts, says,

“As strong demand for our digital capabilities continues to grow, we look forward to providing discounts on all money transfers made through our mobile app and website to everyone earning on the Uber platform.”

MoneyGram says over 70 countries are now digitally enabled for payments and that it will continue to focus on expanding digital offerings.

The Texas-based payments firm partnered with fintech startup Ripple in 2019 and uses the cryptocurrency XRP for quick, low-cost money transfers in a push to revolutionize cross-border remittances. Ripple owns roughly 10% of MoneyGram’s common stock after having completed a $50-million investment in the payments giant last year.

MoneyGram’s digital transactions have jumped 57% year-over-year while walk-in transactions have dropped 6% during the same period.

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Ripple Partner MoneyGram Launches New Initiative With Uber - Ripple Partner MoneyGram Launches New Initiative With UberDisclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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