Consumers in Saudi
Arabia, one of the world's largest remittance markets, can
now use the Mobily Pay mobile wallet to send money in near
real-time around the world
DALLAS, June 2, 2022
/PRNewswire/ -- MoneyGram International,
Inc. (NASDAQ: MGI), a global leader in the evolution of
digital P2P payments, and Mobily Pay, a pioneering mobile wallet
powered by leading Saudi-based telecommunications and digital
service provider Mobily, today announced a partnership to launch
MoneyGram's leading international money transfer capabilities on
Mobily Pay. This partnership empowers millions of consumers in
Saudi Arabia to use the Mobily Pay
mobile wallet to send money in near real-time around the world.
This launch marks the latest successful integration of
MoneyGram's growing white-label offering that enables financial
technology companies to access its leading global money transfer
network. Through this partnership, Mobily Pay will boost its
existing digital offerings by adding new services and scale, while
MoneyGram will efficiently expand the number of payments it
processes through its powerful API-driven infrastructure and
best-in-class technology.
"We're excited to partner with Mobily Pay to reach millions of
new consumers in Saudi Arabia with
our leading global network," said Alex
Holmes, MoneyGram Chairman and CEO. "The digitization of our
global network is a core component of our growth strategy, and we
continue to report exceptional results. As mobile wallet adoption
growth accelerates, digital partnerships with companies like Mobily
Pay create tremendous value for consumers and strengthen our
leading position in this fast-growing market."
MoneyGram's integration with Mobily Pay also builds upon its
strong momentum and recent successes with digital partners in
the Middle East. This partnership
further accelerates both companies' digital growth in one of the
world's largest remittance countries, and fastest growing mobile
wallet markets.
"MoneyGram is one of the leading and most reliable international
money transfer companies. Thanks to this new strategic partnership,
Mobily Pay users will be able to transfer money – to a bank
account, digital wallet, or cash – through a global network of more
than 200 countries and regions," said Ayman
Aleissa, CEO of Mobily Pay. "This new partnership reflects
Mobily's strategic endeavors to deliver a superior user experience
by providing comprehensive digital services that elevates the
lifestyle of individuals and confirms Mobily's keenness to continue
supporting the digital transformation process in the Kingdom."
The partnership is expected to be live for consumers later this
year.
About MoneyGram International, Inc.
MoneyGram
International, Inc. (NASDAQ: MGI), a global leader in the evolution
of digital P2P payments, delivers innovative financial solutions to
connect the world's communities. With a purpose-driven strategy to
mobilize the movement of money, a strong culture of fintech
innovation, and leading customer-centric capabilities, MoneyGram
has grown to serve over 150 million people in the last five years.
The Company leverages its modern, mobile, and API-driven platform
and collaborates with the world's top brands to serve consumers
through its direct-to-consumer digital channel, global retail
network, and embedded finance business for enterprise customers.
MoneyGram is also a leader in pioneering cross-border payment
innovation and blockchain-enabled settlement. For more information,
please visit ir.moneygram.com, follow @MoneyGram on social media,
and explore the website and mobile app through moneygram.com.
About Mobily Pay
Mobily Pay is a wholly owned
subsidiary of Etihad Etisalat Company (Mobily); established to
address customers' needs by offering comprehensive individual and
corporate Fintech solutions. Mobily Pay solutions are set to be
made available to all customers across the Kingdom through major
application stores on smart devices, with more details about the
launch of the company's offerings coming soon.
MoneyGram Media Contact
Sydney
Schoolfield
media@moneygram.com
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SOURCE MoneyGram
