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11/02/2021

Moneygram versus Western Union competition rises at Walmart

Payments Dive

Moneygram executives on Friday blamed discounting by rival Western Union at Walmart stores for a drop in its money transfer revenue as it competed with lower pricing.

In a call with analysts, executives at Dallas-based Moneygram said about half of the decline in its walk-in revenue during the quarter resulted from the company trying to remain competitive with discounting by Western Union at the stores, especially on certain cross-border services. 

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