MoneyGram and Visa have have formed a partnership that will now allow customers to send money through MoneyGram to certain Visa debit cards linked to bank accounts.
MoneyGram has been a favorite way for people to wire money to loved ones. It has also become a favorite way for scammers to steal money from unsuspecting consumers. With the new service there are safeguards in place that will make it more difficult for scammers to steal from those using the service.
This new person-to-person money transfer service could be more difficult to exploit since because it does require the use of a traceable bank account attached to a form of identification. The new service requires the recipient to have a bank account in their name.
Alex Holmes, MoneyGram chairman and CEO believes this is the wave of the future in sending money.
“We strive to create the best possible experience for sending and receiving money, and this new product offering empowers our customers by giving them yet another way to send money to friends and family. And in partnering with Visa, the world’s leader in digital payments, we’re providing our customers with a dependable option that they know and trust.”
Visa also sees the benefits to consumers in the new product as it will only cost $1.99, according to Bill Sheley, a Visa Senior Vice President.
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About the Author: Aisha K. Staggers is a writer, lecturer, political analyst and literary agent. She appears weekly for “Staggers’ State of Things” on the Dr. Vibe Show. Her work has been published by Paper Magazine, AfroPunk, The Spool, GREY Journal, MTV News, HuffPost, Blavity, Atlanta Blackstar, For Harriet, New York Review of Books and a host of other first-run publications and syndicated outlets. Find her on Twitter @AishaStaggers. For more of her work, check out her page here!