Colorado-based Western Union has reportedly made a takeover offer for MoneyGram, but no decision has been made, and the acquirer could opt to proceed without a deal. Neither party has commented on the deal.
Dallas-based MoneyGram has suffered due to the global coronavirus lockdowns. Over the years, the firm has allocated a large portion of its technology efforts to digital kiosks, rather than website or mobile app development.
In the first quarter of this year, just 18% of MoneyGram’s money was transacted digitally. The firm still relies heavily on physical channels – many of which are currently shut due to various countries’ continued lockdown measures.
