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Moneygram Earnings call this morning...They are pumped for xRapid


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They gush a bit about Ripple and xRapid "Ripple has become our key partner for settling cross border payments using digital assets" "Sooo excited to announce today that moneygram is live and

I hold gold, silver, cryptos (and I hold more precious metals than I do crypto).  It's really only Bitcoin maxis who push the "store of value" thing because BTC literally has no other use....and

I am really impressed. I just tried sending money to Greece. $500 from a US bank account to a bank account in Greece: Okay, what does Western Union offer? So please observe the A

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10 minutes ago, LiquidGoat said:

you put 1000 he put 500 does that make any difference?

In exchange services that are extremely focused on swapping one currency for another, the amount usually does impact the exchange rate. In this case, it doesn't appear so. From my walkthrough of both services, you'd get about $7 more through by going through Western Union because of the better rate. However, they do mention that it can take between 0 and 7 days.

2 minutes ago, Benchmark said:

Difference is to receive by cash pickup or bank account.

Yeah, by default, Moneygram was preset to cash pickup and had a much worse exchange rate. However, doing the same with Western Union took a notable exchange hit too. This is a good example of how there are hidden fees in the exchange rate even though they claim to have no fees.

Edited by Xrylite
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WU just has far superior management than Moneygram. WU share price has actually maintained its price in the last 13 years, while MG has declined by about 99.6%. Remember they had a 7:1 Reverse stock split in 2011 and even after that their share price fell from $170 in 2005 to $3.25 today. If you count the reverse stock split its really $3.25/7 or 46.4 cents.

The biggest Corridors like MXN/PHP/China/India are served well by WU. If you want to send money to say, Afghanistan, it does cost you $108 to send $1000 using WU though. But then again, I don't think there are any XRP corridors in Afghanistan these days.

Edited by Archbob
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3 hours ago, Archbob said:

WU just has far superior management than Moneygram. WU share price has actually maintained its price in the last 13 years, while MG has declined by about 99.6%. Remember they had a 7:1 Reverse stock split in 2011 and even after that their share price fell from $170 in 2005 to $3.25 today. If you count the reverse stock split its really $3.25/7 or 46.4 cents.

The biggest Corridors like MXN/PHP/China/India are served well by WU. If you want to send money to say, Afghanistan, it does cost you $108 to send $1000 using WU though. But then again, I don't think there are any XRP corridors in Afghanistan these days.

Bruh don't say those things about WU! Western union is headed by a dumb old CEO who doesn't know what is he is doing! Xrp bagholders know best! Moneygram is a great company and not desperate at all!

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5 hours ago, Archbob said:

WU just has far superior management than Moneygram. WU share price has actually maintained its price in the last 13 years, while MG has declined by about 99.6%. Remember they had a 7:1 Reverse stock split in 2011 and even after that their share price fell from $170 in 2005 to $3.25 today. If you count the reverse stock split its really $3.25/7 or 46.4 cents.

The biggest Corridors like MXN/PHP/China/India are served well by WU. If you want to send money to say, Afghanistan, it does cost you $108 to send $1000 using WU though. But then again, I don't think there are any XRP corridors in Afghanistan these days.

Everything you write maybe correct, but that does not excuse the very complacent comments from their CEO about a year ago about going digital.  I am sure that Block buster were better than  Netflicks at running a chain  of shops.  Blockbuster did not fail because it was badly managed, it failed because it was complacent and did not embrace change.  

It is well known that the legacy banking industries have not put much effort into trying to provide the services to the unbanked in underdeveloped economies, so it is natural that digital transfer services will have first success in these types of economies.   It may happen that small fintech companies come in even cheaper than a reforming Moneygram.  No shipping line managed to set up an airline.  Disruption has a habit of favouring the new over the old.  But the old that are complacent about displacement by disruptive techs stand no chance.  At least Moneygram are giving themselves the best chance.

Edited by Julian_Williams
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Western Union like many companies has done stock buybacks to artificially boost share price over the years.  Its fees are high and offers poor exchange rates.  In the new world of mobile global payments it is surely still a juggernaut, yet losing market share to the many other options.  Alipay in Asia/Europe come to mind.  Some of the preceding posts that the Western Union CEO is some oracle of the digital age have been patently incorrect.  Don't trust my opinon- please research news on Western Union to learn more about it's "leading edge" global payments system.  Lots of 1-3 days waits to load those accounts from banks. It's a stodgy old legacy system that is barely keeping up with the times.  Its sheer size masks its poor quality, yet for now it retains its global dominance no question. 

 

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6 hours ago, xrphilosophy said:

Western Union like many companies has done stock buybacks to artificially boost share price over the years.  Its fees are high and offers poor exchange rates.  In the new world of mobile global payments it is surely still a juggernaut, yet losing market share to the many other options.  Alipay in Asia/Europe come to mind.  Some of the preceding posts that the Western Union CEO is some oracle of the digital age have been patently incorrect.  Don't trust my opinon- please research news on Western Union to learn more about it about it's "leading edge" global payments system.  Lots of 1-3 days waits to load those accounts from banks. It's a stodgy old legacy system that is barely keeping up with the times.  Its sheer size masks its poor quality, yet for now it retains its global dominance no question. 

 

No no no just no @Cooliozxrp has spoken and You as an xrp holder are just wrong.

/s if it wasn’t obvious.

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Ramsey El-Assal - Analyst

And then I wanted to ask on the Ripple partnership, I don't know. Can you maybe help us get a sense of how much of the cost base you think you can save? Or -- I mean, clearly, there's -- I mean you guys communicated, there's some cost benefit. But just looking through the income statement, help us understand a little bit where and when we might expect to see that starting to come through?

Alex Holmes - Moneygram

Let me add one thing then I'll let Larry jump in on that. And I guess fundamentally, right, I love to say, there really is no way to instantly move money anywhere around the world, right? We run a giant net settlement engine and I think we do it better than anybody. That's kind of how you get money from point A to point B these days. And I think, you have two ways of doing that. You have the consumer side of it and then you have your back end settlement and trading processes. And what this product has the capability to do is actually completely streamline and transform our back end capabilities.

And for the first time, I think ever really actually enable money to move instantly, or as close to instant as humanly possible. So if you think about hundreds of millions of dollars circling the world every day, waiting to be settled and sort of what we call, money trapped in transit. The ability to streamline that can drive a ton of efficiency. So I'll let Larry jump in.

Larry Angelilli - Moneygram

And I was -- you know, we've been ramping, starting with some pretty low levels. I don't foresee really much of a material impact on Q3. We're live. We're doing stuff. We did move money in Mexico in a minute 13 seconds. But it's -- I think we're -- really we're on a ramp, but we're not going to be maxing out or stressing their system. And so it'll build gradually. I think in the fourth quarter, we'll start to see some impact. I think due to the kind of confidentiality and the unique nature of what we're doing. I don't think we can really describe, at this point, what the P&L impact is. But I would just say that we're expecting it to influence Q4

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