What happened Shares of MoneyGram International (NASDAQ: MGI) surged by more than 20% on Friday after the money transfer company said its direct-to-consumer business was growing at a torrid clip. So what MoneyGram's cross-border revenue in its direct-to-consumer digital business, MoneyGram Online (MGO), skyrocketed 150% year over year in October. It marked the 10th straight month of triple-digit expansion for this increasingly important growth driver. MoneyGram International's digital DTC business is growing rapidly. Image source: Getty Images. Notably, MoneyGram's gains came despite intensifying competition in the digital payments arena from the likes of PayPal and Square. "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." 10 stocks we like better than MoneyGram InternationalWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and MoneyGram International wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of October 20, 2020 Joe Tenebruso has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends PayPal Holdings and Square and recommends the following options: long January 2022 $75 calls on PayPal Holdings. The Motley Fool has a disclosure policy.Source