MoneyGram lets customers send funds to a phone number

With this new product, customers can send and receive money in just a couple of clicks

MoneyGram FastSend

MoneyGram lets customers send funds to a phone number. Source: shutterstock.com

MoneyGram announced the launch of MoneyGram FastSend service. It enables users to send money instantly to their friend’s mobile phone numbers via the MoneyGram website and mobile app.

With the launch of the new FastSend service, sending money is now as easy as sending a text. FastSend builds on the success of our extremely popular mobile app and will further MoneyGram's leading position in the evolution of digital P2P payments
Alex Holmes, MoneyGram Chairman and Chief Executive Officer

To use FastSend, customers will need to log in to the MoneyGram app or website. Afterward, they should enter the receiver’s name and phone number, and select FastSend. The service sends a text to the receiver notifying them that they have money immediately available for a deposit. The receiver then logs in, adds their debit card, and the funds are transferred into their bank account in minutes.

As to FastSend’s major advantage, it gives users a fast way to send money by sending a text message, eliminating the need for providing the receiver’s bank account information.

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