Back to top

Image: Bigstock

MoneyGram Teams Up With Brightwell to Ease Money Transfer

Read MoreHide Full Article

MoneyGram International, Inc. (MGI - Free Report) has partnered Brightwell, a financial technology (FinTech) company, to allow crew members support their family and friends by sending money digitally with the use of MoneyGram on Brightwell app.

Brightwell, Atlanta-based financial technology company, aids global workers’ payments as well as send and spend money safely and easily. The company offers financial services including cross-border remittance, person-to-person payments transfers and digital bank accounts to global workers from more than 140 countries. Its products cater to the financial needs of crews. For businesses, Brightwell’s cutting-edge products lower costs, enhance security and streamline cash management. For crews, its financial management suite comprises an easy-to-use mobile app, prepaid card, and integrated global transfer services.

The partnership between the two financial giants will provide cruise workers a simple and profitable way to send money home directly from their mobile devices. The remittance can be completed before arrival at the port.

MoneyGram, headquartered in Dallas, is the second-largest money transfer company in the world. It caters to both individuals and businesses globally. Individuals use the company’s services to transfer money from any country where MoneyGram has an agent location.

Shares of this Zacks Rank #5 (Strong Sell) company have surged 37.1% in a year’s time, outperforming its industry's growth of 29.8%.

Stocks to Consider

Some better-ranked stocks in the same space include AXA Equitable Holdings Incorporation EQH, PRA Group, Incorporation PRAA and On Deck Capital Incorporation ONDK, each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

AXA Equitable Holdings operates as a diversified financial services company worldwide. Its four-quarter positive surprise is 12.40% on average.

PRA Group engages in the purchase, collection and management of portfolios of non-performing loans in the Americas and Europe.  Its earnings managed to beat in three of the four quarters, the average positive surprise being 18.07%.

On Deck Capital operates an online platform for small business lending in the United States, Canada, and Australia. It offers term loans and lines of credit. Its earnings managed to beat in two of the last four reported quarters, the average positive surprise being 8.31%.

More Stock News: This Is Bigger than the iPhone!

It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.

Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.

Click here for the 6 trades >>

In-Depth Zacks Research for the Tickers Above

Normally $25 each - click below to receive one report FREE:

MoneyGram International Inc. (MGI) - free report >>