Moneygram International Incorporated (MGI)

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Notably, MoneyGram's (Market Cap
544.6067 Mil) gains came despite intensifying competition in the digital payments arena from the likes of PayPal (Market Cap
221.0045 Bil) and Square(Market Cap
79.9015 Bil). "These results continue to demonstrate our ability to capture share as we strengthen our market position due to the success of our customer-led digital transformation," CEO Alex Holmes said in a press release.

Now what
The coronavirus pandemic has accelerated the trend toward digital payments and away from cash transactions. MoneyGram wisely chose to invest in its mobile app in recent years, a move that's paying dividends today.

"Customers are choosing MoneyGram over other options because the app is easier to use, faster, and more affordable," Chief Operating Officer Kamila Chytil said. "As we execute our strategy to build upon our momentum in the market, we expect our direct-to-consumer digital business to continue to deliver profitable growth."