Bulgarians Benefit from MoneyGram and DSK Bank New Mobile Transfer Service
SOFIA, Bulgaria, April 8, 2016 /PRNewswire/ -- DSK Bank and MoneyGram, (NASDAQ: MGI), announced today the launch of an innovative international service that enables DSK Bank account holders in Bulgaria to securely conduct money transfers using a mobile device.
With the new service, MoneyGram customers abroad are able to conduct money transfers to DSK Bank users in a secure way within minutes. All DSK Bank's customers in Bulgaria who use digital channels can now receive international money transfers from any MoneyGram agent location in more than 200 countries and territories, 24 hours a day, 7 days a week and can quickly make use of this money, on their mobile phones. Also, via the new mobile application, DSK customers are able to make money transfers from their own accounts to MoneyGram agent locations around the world. Money transfers can be conducted online and are available to receiver within minutes subject to agent operating hours and compliance with regulatory requirements. "With the launch of the mobile service, MoneyGram strengthens its commitment to Bulgarian customers by offering convenient and innovative services. The new digital solution reflects the company's long-term goals to make money transfers easier and faster for customers wishing to connect with loved ones," said Radu Pojoga, MoneyGram's Regional Director for the Balkans. "MoneyGram is proud of the role it plays in enabling families to pay for life's emergencies and essentials, to open businesses, or to help them celebrate a special occasion," added Mr. Pojoga.
"DSK Bank is the first bank in Bulgaria to launch such a mobile transfer service. We are committed to bringing to the market a new and enhanced experience that our customers need, whenever and wherever they are – on the go or at home. The new service is a testament to the strength of a shared commitment MoneyGram and DSK Bank have to each other and most importantly to our customers," says Emil Hristov, Head of Bank Operations Directorate at DSK Bank.
With the launch of the new service, DSK Bank becomes the only bank in Bulgaria currently offering Cash-to-cash, Cash-to-ATM and Cash-to-mobile Money Services.
The new mobile solution has been designed to deliver a superior customer experience to users of DSK Bank's electronic channels. Customers with registered mobile app and DSK Direct users can send and receive MoneyGram transfers quickly and securely, saving time and efforts. The service will enable customers to receive MoneyGram transactions 24 hours a day, directly into their bank account.
The new DSK MoneyGram mobile application also allows customers to calculate the due fees between different destinations, to find addresses and MoneyGram agent locations by country, region or town and to monitor sent or received transactions history.
Bulgaria is one of Europe's largest recipients of money transfers. According to the World Bank, remittances from abroad totaled $1.7 billion in 2014 (simultaneously, only $140 million was sent out of Bulgaria). The most active corridors for money transfers to Bulgaria are Turkey ($830 million in 2014), Spain ($198M), Germany ($113M), the USA ($97M), the United Kingdom ($74M), Italy ($72M) and Greece ($68M).
MoneyGram is a global provider of innovative money transfer and payment services and is recognized worldwide as a financial connection to friends and family. Whether online, or through a mobile device, at a kiosk or in a local store, we connect consumers any way that is convenient for them. We also provide bill payment services, issue money orders and process official checks in select markets. More information about MoneyGram International, Inc. is available at moneygram.com.
About DSK Bank
In its history of over 60 years DSK Bank has managed to establish itself as the undisputed leader in retail banking and in the last few years it has positioned itself as the preferred partner in corporate and SME banking as well. The Bank disposes of the largest branch network in Bulgaria and offers full range of bank products and services to all customer segments. Leader in trust among the users of financial services in the country, the Bank skillfully embodies tradition and constant renewal, including in the field of information and communication technologies and the payment systems. One of the areas to which the Bank has streamlined its efforts in recent years is enhancing the accessibility of bank services through distribution channels' modernization, expanding and diversity.
Media Contact: Michelle Buckalew,