Moneygram Update Today: Latest Developments and Changes

Moneygram has recently introduced a new feature that allows users to send money directly to mobile wallets, such as M-Pesa and Tigo Pesa. This feature is now available in several countries, including Kenya and Tanzania.

Sending money with Moneygram has become more convenient, with the option to pay with a credit or debit card online. This eliminates the need to visit a physical location.

Moneygram has also expanded its network of agents, making it easier for users to send and receive money in person. This expansion has been particularly beneficial for rural areas where access to digital payment methods may be limited.

The new Moneygram app has been designed with a user-friendly interface, making it easy to navigate and send money on the go.

Worth a look: Japan New 500 Yen Coin

MoneyGram has been down for several days due to a cybersecurity issue.

The company launched an investigation after detecting the issue and took its systems offline to protect them. It's now working with experts and law enforcement to get back online and resume business.

MoneyGram's website and services were still down as of Tuesday morning.

The company's outage has affected its partners across the Caribbean and Mexico, with several of them reporting their own outages were caused by the attack on MoneyGram.

Remittance companies in Jamaica, for example, are unable to access the MoneyGram platform to send remittances abroad or disburse remittance proceeds to recipients in Jamaica.

MoneyGram is used by over 50 million people each year to send money and cryptocurrency internationally and within the U.S.

The company facilitates more than $200 billion in transactions each year in over 200 countries and territories.

Here's a breakdown of the impact of MoneyGram's outage:

MoneyGram has taken steps to protect its consumers after a cybersecurity issue was detected on September 20, 2024. The Company's investigation is in its early stages, and it's working diligently to determine which consumers were affected.

MoneyGram's website notice and FAQs provide recommendations for affected consumers to help protect their data. These resources can be found at www.moneygram.com. The Company has also set up a dedicated call center, open Monday through Friday between 8 am and 8 pm CT, available in English and Spanish.

MoneyGram regrets any concern this issue may cause its consumers and takes its obligation to safeguard personal information very seriously. The Company will continue to work hard to support consumers and deliver the services they expect from MoneyGram.

Hundreds of MoneyGram outages were being reported as of late Monday afternoon, according to Downdetector, which tracks user reports of outages. This is likely causing significant inconvenience for those who rely on MoneyGram for international money transfers.

MoneyGram is working with cybersecurity experts and law enforcement to restore its global money transfer service. The Company has taken the product offline several days ago due to the cybersecurity issue and is continuing to work to resume normal business operations.

Remittances from the U.S. to Mexico rose to a record $55.9 billion in 2022, according to the Federal Reserve Bank of Dallas. This growth is largely attributed to strong employment in U.S. construction, with the industry a top employer of Mexican migrants.