With competition for cross-border payments heating up, new data from currency exchange website XE.com show that U.S. residents are transferring money internationally most often to pay bills or for living expenses, followed by travel expenses, mortgage and rental payments, and cash gifts.
Money transfer giant MoneyGram can give further consideration to Euronet’s surprise bid to acquire the company from under the nose of Ant Financial, which in January entered a definitive agreement to buy MoneyGram.
Payments processor Euronet is dangling more money and the potential for faster, simpler regulatory approval in front of MoneyGram investors, significantly outbidding China’s Ant Financial Services Group for the No. 2 U.S.-based money transfer company.
