Chinese e-comm giant buys e-cash processor

MoneyGram now belongs to an Alibaba associate, Ant Financial

MoneyGram, an e-cash processing company and rival to Western Union as a popular method of making online gambling transactions, has been acquired for an undisclosed consideration by Ant Financial, a company associated with the Chinese e-commerce giant Alibaba.

MoneyGram shares rose 10 percent as news of the deal broke Thursday, but CNN opined that there could be fall-out from the Trump administration due to MoneyGram’s popularity as a vehicle for Mexicans resident in the US to send money to relatives in Mexico.

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Brian Cullingworth

Brian Cullingworth

Infopowa news was a staple of Casinomeister’s news from 2000 until 2019. Brian Cullingworth was the main writer, contributor, and was one of the most knowledgeable persons I have ever known involved in the online casino industry.

We first met in January 2001 at the ICE in London where I observed him going booth to booth interviewing online casino, software, and licensing jurisdiction representatives. Brian was also heavily involved with our forum as “Jetset“, he was involved as an informal consultant to eCOGRA, the OPA, and was a player advocate who assisted countless aggrieved players with his connections to industry folks. He also published “Casino Cautions” via Infopowa news for quite a number of years. These can be found in our news archives.

His passing in February 2019 was a dark day for us. He will be forever missed.

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