CNN has partnered with international payments company MoneyCorp to launch CNN Money Transfers payment service. The service will allow users to transfer money without paying commission or higher exchange rates often charged by mainstream banks. The solution available on desktop and mobile devices is part of an expansion plan by CNN targeted at generating additional revenue streams in areas of English language learning and international money transfers. The diversification expands beyond traditional core business areas of advertising solutions, content sales and syndication, marketing and research.
To use the service, users access CNN Money Transfers service, where they select the currency they have and the currency they need. They are then asked if they want to send the base currency or receive the other currency. They then choose the country they seek to send the amounts and offer a reason for the same. The reasons range from travel money, emigration to property sales and purchases. After which, a user is directed to create an account and the transactions are completed.
Its expansion into the learning of the English language saw CNN partner with Germany-based learning solutions provider Papagei.com, to launch an English language learning service – CNN Learn English. Available on desktop and mobile, the subscription-based service allows users to learn English by overlaying CNN video content with Papagei.com’s translation and learning aids. The Content is focused on finance and business, spanning a range of subject matters and a variety of dialects.