Ant Financial Issues Letter Citing Commitment to MoneyGram’s U.S. Growth

Yet another development has unfolded in the dueling bids for wire-transfer provider MoneyGram International Inc. As Ant Financial Services Group and Euronet Worldwide Inc. compete to acquire MoneyGram, Ant Financial on Thursday issued an open letter to MoneyGram that addresses Ant’s potential commitments to the money-transfer company.

In addition to claiming that it values MoneyGram’s employees, customers, and partners, the letter, which appeared as an advertisement in the Dallas and Minneapolis newspapers, speaks about Ant Financial’s commitment to safeguarding any data collected on U.S. MoneyGram users, saying it “will continue to reside on the same ironclad U.S.-based servers that meet the high security standards your customers trust today.”

It also touts its experience with EyeVerify, a Kansas City, Kan.-based developer of software for mobile devices that can match the blood vessels in users’ eyes with stored prints, that Ant Financial purchased in 2016.

“Since acquiring them last year, we have made significant investments in the business, nearly doubled its workforce in the U.S., and helped grow this American startup into a stronger company,” the letter noted. “We intend to do the same with MoneyGram–and we are excited to help MoneyGram expand its business globally for the digital future of the remittance industry.”

In February, Ant Financial was the sole bidder, at $880 million, for MoneyGram, but in March, Leawood, Kan.-based Euronet announced a $1 billion bid, markedly topping Ant Financial’s offer. Subsequently, Ant Financial said it was committed to its MoneyGram offer.

This week, two Congressmen sought a review of Ant Financial’s bid for MoneyGram. Ant Financial did not say its open letter Thursday was a response to the review from U.S. representatives Kevin Yoder of Kansas, whose district includes Euronet’s headquarters, and Eddie Bernice Johnson of Texas, whose district includes MoneyGram’s corporate headquarters.