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The two companies have been rivals for decades but more recently have faced up to competition from a host of younger, digital outfits. Both still rely heavily on their vast physical networks, which have been affected by the Covid-19 pandemic.
Since then, it has struck a deal with Ripple, which agreed to invest up to $50 million in MoneyGram as part of a two-year partnership that will see the latter use the blockchain startup's XRP digital currency for cross-border payment and foreign exchange settlement. Related Companies Moneygram International Western Union Lead Channel Payments Channels Retail banking Keywords Mergers and acquisitions Editorial | what does this mean? This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community.
https://www.finextra.com/newsarticle/35935/western-union-bids-to-buy-moneygram---bloomberg
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