MoneyGram Partners with Visa on P2P Money Transfer Platform

Through Visa Direct, MoneyGram will offer customers P2P money transfers to debit cards as the company expands its payment services.

On Monday (September 9) online payments company MoneyGram (NASDAQ:MGI) announced a partnership with Visa (NYSE:V) as part of a peer-to-peer (P2P) debit service agreement.

The cross-border payments company is adding a P2P feature to its payment platform, allowing individuals to send money to each other’s debit cards for a minimum of US$1.99 per transaction. This service is currently only available in the US, although it has plans to expand internationally.

“By implementing Visa Direct, companies like MoneyGram are able to offer choice, flexibility and peace of mind to customers, knowing that each transaction is backed by the security, reach and capability of Visa’s global payments network,” said Bill Sheley, senior vice president and global head of Visa Direct, in a press release.

While MoneyGram and Visa entered into their seminal partnership in July 2018, the announcement comes as an additional layer to the secure cross-border remittance services developed through Visa Direct. The cross-border deal with MoneyGram was the first of its kind for Visa Direct in harnessing cross-border payments that originated in the US.

Since the beginning of the year, MoneyGram’s shares have skyrocketed over 146 percent. In one instance, after Ripple invested US$50 million in MoneyGram in June, MoneyGram’s shares doubled.

MoneyGram has been forging several deals in the past year and a half. In August, MoneyGram partnered with Vietnam-based HDBank in a home-delivery remittance agreement. As part of the partnership, funds will be delivered to HD customers’ doorsteps within three hours. This additional channel adds to MoneyGram’s and HD Bank’s existing payment and remittance partnerships.

Additionally, last year, Alibaba-owned(NYSE:BABA) Ant Financial attempted to acquire MoneyGram for US$1.2 billion. The deal was blocked after security concerns were expressed from US regulatory officials.

Despite its impressive share performance over the year, MoneyGram reported declines in revenues in its second quarter financial results. In tandem, its net loss was US$27.2 million, a sharp turn from US$2.3 million in net income during the second quarter of 2018.

As payments and transactional innovation gain momentum, users are expecting faster speed settlements and services. According to a report from the FinTech Growth Syndicate, 158 PayTechs are headquartered in the US and are operating in Canada, 420 PayTechs are headquartered and operating in Canada. The estimated gross revenue in 2016 for the payments industry in Canada was $16.4B.

Paytechs, according to Payments Canada, are firms that transfer funds through the use of technological advancements.

In light of this, according to Deloitte, the payments sector of fintech has the highest number of startups within the ecosystem, particularly in the banking and financial services industries. Since 1998, 264 payment-centered companies have received US$7.71 billion in the US, it added.

Looking forward, Research and Markets projects that the overall global fintech sector will expand by a compound annual growth rate of 22.13 percent until 2023. Driven by heightened mobile phone adoption and banking expenditures influenced by consumer demands, it anticipates that, by 2023, the global fintech market will reach US$305.7 billion.

Shares of MoneyGram were up nearly 8 percent from Monday’s open at US$5.28 to close on Tuesday (September 10) at US$5.66.

Don’t forget to follow us @INN_Technology for real-time news updates!

Securities Disclosure: I, Dorothy Neufeld, hold no direct investment interest in any company mentioned in this article.

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Commercially viable scandium deposits are rare, making widespread use of the metal tricky. However, there is indeed opportunity in the space.

Scandium is a critical metal that is as strong as titanium, as light as aluminum and as hard as ceramic.

While it is more abundant than lead, mercury and all the precious metals, there are no pure scandium-producing mines. The rare earth element is often a by-product, produced from refining other metals, including uranium.

Pure scandium metal rarely concentrates at higher grades alongside other metals, making commercially usable scandium deposits very rare. What's more, even when scandium is found at elevated levels, processing it can be difficult, leading to very few stable sources of this critical metal.


Not surprisingly, that means there has been very little adoption of scandium in commercial applications. However, as John Kaiser of Kaiser Research has pointed out several times in the past few years, as well as more recently, that doesn't mean there hasn't been research into how scandium could be used in the future.

"Hundreds of applications (have been) filed, many of them related to alloys with aluminum," he said in an interview with the Investing News Network. "This obscure metal is going to go ballistic in the next few years."

Kaiser made that statement a few years back, and scandium has yet to go ballistic. But he still has hope for the metal, and it could yet have its day in the sun.

Below is an overview of the scandium market. Topics covered include current production, newcomers to the space and the metal's potentially bright future.

Current scandium production

The first known large-scale scandium production was associated with Russian military programs. Details are lost to history, but Russians reportedly alloyed the metal with aluminum to make lightweight MIG fighter parts. Mining at these historic Russian production sites has ceased, but stockpiles of scandium oxide and scandium master alloy remain in Russia. These stockpiles are rumored to be dwindling, but continue to be offered for sale on the market.

Today, most scandium is produced as a by-product during the processing of other ores, such as uranium or rare earths, or recovered from previously processed tailings. As a result, scandium supply can be affected by the supply and demand dynamics of the metals it is produced with. That can make the metal's already tough-to-follow market dynamics even more difficult to understand.

According to the US Geological Survey, scandium-producing countries include China, where it is a by-product of iron ore, rare earths, titanium and zirconium; and the Philippines, where it is a by-product of nickel. Scandium is also produced as a by-product of uranium in Russia, Ukraine and Kazakhstan.

More US production could be on the horizon as well after a push in legislation that encourages the Department of Defense to look into the potential uses of the metal. Environmental and construction permits have been approved for NioCorp's (TSX:NB,OTCQX:NIOBF) polymetallic Elk Creek project with probable reserves estimated to be 36 million tonnes containing 65.7 parts per million scandium.

Scandium resources have been identified in minerals-rich regions across the world, most notably in Australia, where a number of junior mining companies are working to develop scandium deposits in New South Wales. These include Scandium International Mining (TSX:SCY), which controls the Nyngan project; Clean TeQ Holdings (ASX:CLQ,OTCQX:CTEQF), which holds the Sunrise project; and Platina Resources (ASX:PGM,OTC Pink:PTNUF), which is working on the Owendale project.

Scandium price and trading

The US Geological Survey states that the global scandium market is "small relative to most other metals." This is exemplified by global production and consumption, which is only an estimated 15 to 20 metric tons annually.

The US Department of Commerce and the International Trade Commission do not have specific data on trading for the metal. Furthermore, there is no formal buy/sell market today — scandium is not traded on an exchange and there are no terminal or futures markets.

Instead, the metal is traded between private parties, mostly at undisclosed prices and in undisclosed amounts. Therefore, understanding the precise volume of production and cost of scandium is difficult, and independent estimations are more relevant.

Production estimates are based on levels of trader activity and interest, as well as the knowledge that some traders deal in the critical metal from very small operations.

The estimates also include consumers believed to be sourcing their own scandium through small, controlled recovery operations, but don't consider amounts of the metal contained in the master alloy currently being sold from Russian stockpiles.

The scandium opportunity

Analysts expect the global scandium market to grow at a compound annual growth rate of above 11 percent between 2020 and 2025. "The major factors driving the growth of the market studied are the accelerating usage in solid oxide fuel cells, and the rising demand for aluminum-scandium alloys," notes ReportLinker.

Despite the lack of known, stable supply, scientists and engineers have been working hard to develop new products incorporating the metal. Scandium's potential in high-tech applications is well documented. Highlights of the metal's properties include:

  • It can be used in the creation of stronger, corrosion-resistant, heat-tolerant and weldable aluminum alloys for lightweight aircraft and automobiles.
  • Its outstanding electrical properties and heat resistance are valuable for solid oxide fuel cells.
  • It has unique optical properties for high-intensity lamps.

A recent Kaiser Research report on scandium details the wide variety of end uses for scandium now and into the future, as well as where potential supply to meet that demand may originate.

potential scandium oxide supply and demand

Potential scandium oxide supply and demand.

Kaiser Research

As Kaiser has explained, "There's an enormous latent demand for scandium if it ever became available on a primary, scalable basis."

In other words, the only barrier to accessing demand from a new family of high-performance aluminum materials and energy/lighting products is the lack of commercially viable larger-scale scandium production. Interestingly, Kaiser's work highlights two important scandium market events that may "have the potential to launch scandium demand growth over the next decade towards a 1,000 (tonne per annum) market worth US$2 billion."

For one, Rio Tinto (NYSE:RIO,ASX:RIO,LSE:RIO) announced in 2020 that it has developed a route to recovery for scandium at its Sorel-Tracy facility in Quebec, where it produces titanium slag from the Lac Tio iron-titanium deposit. In mid-2021, Rio Tinto began commercial-scale operations at its new scandium oxide production facility.

"The Rio Tinto development is a game changer for the scandium sector," said Kaiser, who believes the increase in scandium production could help boost the sector.

Secondly, Scandium International Mining filed an application in late 2019 for a patent protecting a method for recovering scandium and other metals from the waste streams of copper oxide leaching operations. In mid-2020, the company announced that copper raffinate tests showed its patent-pending process could recover enough scandium to match the supply being added to the market by Rio Tinto.

"Conditions are finally right for scandium to become the ideal lightweighting solution for aluminum," Kaiser said in his note to investors.

This is an updated version of an article originally published by the Investing News Network in 2014.

Don't forget to follow us @INN_Resource for real-time news updates!

Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.

Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.

CMC Metals CEO Kevin Brewer

"We're very excited about the targets, which were verified with geochem and considered as valid drill targets. It's approximately 40 percent greater than all silver mines globally. And 140 percent greater than most silver explorers and developers in the world," shared CMC Metals CEO Kevin Brewer.

CMC Metals (TSXV:CMB,FWB:ZM5N,OTC Pink:CMCZF) CEO Kevin Brewer is excited and confident that the company's current strategy will lead to the discovery of several high-grade polymetallic deposits in the Silver Heart District in the Yukon.


CMC Metals CEO Kevin Brewer: Discovering the Next Major Silver District in the World

CMC Metals CEO Kevin Brewer shared that the company has five properties in that belt, including the flagship Silver Heart property. Since 2019, it has expanded the exploration footprint on that property by over 1,000 percent and identified eight new targets in that time.

"We're very excited about the targets, which were verified with geochem and considered as valid drill targets. It's approximately 40 percent greater than all silver mines globally. And 140 percent greater than most silver explorers and developers in the world. We know we're dealing with a very high-grade project at Silver Heart and some of our other properties in that district. We're very confident that our current strategy will lead to a discovery of not only one, but several high-grade polymetallic deposits in that district," added Brewer.

CMC Metals completed detailed mapping and sampling through a SkyTEM airborne geophysical survey earlier this year. In October 2021, the company identified high-grade polymetallic samples within the calcareous units at its proposed future exploration targets. The discovery included assays of 1,243 grams per tonne silver, 20.06 percent lead and 28 percent zinc.

"We have beautiful targets and we plan to go in and trench them first. We started putting in drill holes and started uncovering outcrops of mineralization late in the season. Overall, we've got 10,000 to 15,000 meter targets at this point. That's a lot for a small company like ours to take on, but we're going to be patient about it and we'll get there. We plan to do that," Brewer said.

Watch the full interview of CMC Metals CEO Kevin Brewer above.

Disclaimer: This interview is sponsored by CMC Metals. This interview provides information which was sourced by the Investing News Network (INN) and approved by CMC Metals in order to help investors learn more about the company. CMC Metals is a client of INN. The company's campaign fees pay for INN to create and update this interview.

INN does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security. INN does not endorse or recommend the business, products, services or securities of any company profiled.

The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with CMC Metals and seek advice from a qualified investment advisor.

This interview may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, receipt of property titles, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. The issuer relies upon litigation protection for forward-looking statements. Investing in companies comes with uncertainties as market values can fluctuate.

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