With all the chatter about which mobile wallet product is going to hit the market first, the mobile money transfer market continues to quietly gain traction. MoneyGram and Gemalto have forged a partnership to launch such a product.
MoneyGram’s money transfer platform will be integrated with Gemalto’s LinqUs mobile payment platform solution, allowing customers to send international transfers from a mobile phone to one of MoneyGram’s 284,000 locations worldwide or receive transfers directly to their mobile wallet.
According to the U.S. Census Bureau, 13.5% of the populatio immigrated here from other countries, which represents a growing market for any product development designed to provide international remittance services.
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