This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

MoneyGram International CEO Presents At Goldman Sachs Technology And Internet Conference (Transcript)

Pam Patsley

Okay, great. Thanks Julio. Good morning everyone. This sounds echoy but can you all hear plainly enough? Okay, great. So MoneyGram is a global remittance company and we operate in 192 countries and we are the second largest player in this industry with about 5% market share, it’s a very fragmented industry if you are not familiar with the industry between number one player and MoneyGram, so it's largest and second largest. We still have less than 25% of the global market share. 40% of cross border remittance is today are still handled through informal channels. So there is a tremendous opportunity for growth and to take share from each players, from our direct competitors, from banks to periodically and I would say more episodically provide this service and certainly from the informal channels.

While money transfer is the lion's share of our business, we also offer urgent bill pay solution today that's just in the US and recently like literally within the last six months, we ruled that out in Canada with the Canada post and its growing very nicely. We continue to focus on new technologies and enhancing and broadening our product offering so whether that's extending currencies that we expect, multi-currency spends or multi-currency receipts we are also ruling out direct to bank account with bank euro, Philippines is now active. You might have recently seen a press release; we have done that now with Banco Rendimento in Brazil and ICBC in China.

So it’s a growth industry and most importantly MoneyGram is outgrowing a growth industry. The World Bank estimates that global remittances are growing around 6 to 7% and that's about what they project going forward in Q4 that we just reported about 10 days ago. We had 13% transaction growth in money transfers.

2 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,096.90 -106.47 -0.58%
S&P 500 2,098.53 -9.25 -0.44%
NASDAQ 4,967.1410 -12.76 -0.26%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs