Thursday , September 29, 2022

MoneyGram Posts $1.3 Billion in 2021 Revenue and other Digital Transactions News briefs from 2/25/22

  • MoneyGram International Inc., which is being acquired by private-equity player Madison Dearborn for $1.8 billion, said it had fourth quarter revenue of $324.6 million, a 0.4% increase from $323.3 million in the 2020 fourth quarter. Net income for last quarter of 2021 was $4.2 million, a 37% decrease from $7.3 million the year prior. For all of 2021, MoneyGram had revenue of $1.3 billion, a slight increase from $1.2 billion in 2020. Its loss for the year of $37.9 million increased from its $7.9 million loss in 2020.
  • Green Dot Corp. reported 2021 fourth quarter revenue of $330.8 million, a 16% increase from $284.3 million in the same period a year prior. Its loss narrowed to $10.5 million from $24 million in 2021’s fourth quarter. For all of 2021, Green Dot had revenue of $1.4 billion, up slightly from $1.3 billion in 2020. Net income of $47.5 million for the year was a 106% increase from $23.1 million in 2020.
  • Payments platform Green Dot said its board of directors authorized a share repurchase program with an authorization to spend up to $100 million on buying back the company’s common stock. The company’s share price has over the past year drifted downward to $27.95 from $54.90.
  • The utility company Commonwealth Edison is warning that scammers are contacting customers and demanding payment via mobile wallets such as Cash App or Venmo for alleged delinquencies. ComEd said it received more than 240 scam reports from customers in January alone, more than doubling the number a year earlier. The scams cost customers more than $27,000, 20 times more than in January 2021.
  • Payments provider Paysafe Ltd. said it has begun processing online credit card and debit card payments for Hard Rock Casino New Jersey’s mobile app.
  • Bank of the West, working with Mastercard Inc., launched Digital Doors, a program aimed at helping small businesses establish an e-commerce store.

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