MoneyGram hires Seth Ross as Chief Digital Officer
“We are thrilled to welcome Seth, a seasoned leader with a proven track record of building and scaling customer-centric digital offerings. As digital transactions now account for over 50% of our money transfer business, this appointment couldn’t come at a more fitting time.”
MoneyGram has announced the appointment of Seth Ross as Chief Digital Officer to lead the firm’s direct-to-consumer business and global digital strategy.
Seth Ross will report directly to Alex Holmes, MoneyGram Chairman and CEO, and will sit on the Executive Leadership Team of the payments specialist.
Seth Ross joins MoneyGram from Ceridian, where he was General Manager of Dayforce Wallet and Consumer Services. At the human capital management firm, he provided the vision and leadership for the company’s consumer app that enables on-demand access to wages. He helped to successfully extend the platform into new business-to-consumer markets around the world.
His career includes leading the Banking-as-a-Service business of Green Dot Corporation as well as multiple executive roles at American Express. Ross also worked as a strategy consultant for nearly a decade.
“Digital transactions now account for over 50% of our money transfer business”
Alex Holmes, Chairman and CEO at MoneyGram, said: “We are thrilled to welcome Seth, a seasoned leader with a proven track record of building and scaling customer-centric digital offerings. As digital transactions now account for over 50% of our money transfer business, this appointment couldn’t come at a more fitting time. Seth brings significant experience in technology innovation and embedded financial services, and I am confident that he will skillfully lead us through the next phase of our digital growth strategy.”
Anna Greenwald, Chief Operating Officer at MoneyGram, commented: “On behalf of all of us at MoneyGram, I’m excited to welcome Seth to the team! As an experienced and passionate digital business strategist, Seth is the right leader to accelerate our digital growth, and I look forward to partnering with him to drive product and technology roadmaps.”
Seth Ross, Chief Digital Officer, added: “I’ve watched with admiration as MoneyGram has evolved into a global fintech, and I’m excited to build upon the success of the team’s digital efforts to date. MoneyGram has incredible assets to build on, including a trusted brand reaching millions of consumers worldwide, a fast-growing digital payments business, and a network that is second to none. I look forward to working with Alex, Anna and the world-class team at MoneyGram to help shape the future of the company.”
MoneyGram ordered to refund customers after failing to stop scammers
As a result of a 2018 action the Federal Trade Commission and the U.S. Department of Justice brought against MoneyGram for failing to crack down on scammers using their payment system, more than $115 million in refunds are being sent to consumers nationwide.
According to the 2018 charges, MoneyGram violated an FTC settlement from 2009, along with a 2012 DOJ agreement in which the company agreed to take proactive steps to reduce scammers’ ability to use their payment system to receive money from consumers.
In the 2009 settlement with the FTC, MoneyGram agreed to put in place a fraud prevention program which, among other things, required the company to promptly investigate, restrict, suspend, and terminate high-fraud agents. The FTC charged that MoneyGram was aware of continued fraud on their payment network after the settlement, turning a blind eye for years to numerous instances of suspicious payment activity by the company’s agents.
Consumers receiving refunds in this distribution are those who submitted claims during the open claims process in 2021.
