Digital money transfer service MoneyGram (NASDAQ: MGI) announced on Wednesday it has formed a partnership with global payments network Thunes to enable customers to send money directly to mobile wallets and bank accounts globally through its platform.
According to MoneyGram, the collaboration will see additional payment services progressively being rolled out in two phases. The first will be in Africa (Kenya, Tanzania, and Uganda) while the second will focus on the Asia Pacific region and Latin America. Speaking about the partnership, John Gely, Head of MoneyGram Africa revealed iii will mark an important milestone for the MoneyGram platform.
“We are continuously investing in key markets and accelerating digital growth through the integration of mobile wallets and banks, and we believe our partnership with Thunes will further support our strong expansion.”
Peter De Caluwe, CEO of Thunes, further commented:
“Our robust technological capabilities will enable MoneyGram to achieve greater efficiencies which will bring about significant benefits for MoneyGram customers. In working together with MoneyGram, we strive to help them extend their reach worldwide. Beyond Africa, our next step is to facilitate MoneyGram’s expansion into Asia and Latin America.”
The partnership with Thunes comes just days after MoneyGram announced it has formed four mobile wallet and fintech partnerships that will give MoneyGram access to mobile wallets in nearly 30 markets in Africa, with Thunes being one of the partnerships. The other partnerships are with the following
- Airtel, A provider of telecommunication and mobile money services, has a presence in 14 countries across Africa and over 19 million customers alone.
- InTouch, and MFS Africa: Fintech payment providers, are platforms that bridge the gap between the rapidly growing mobile money ecosystem in Africa and global online digital payments. The reach of the three providers will enable MoneyGram to quickly and significantly expand its coverage across the continent.
MoneyGram describes itself as a global provider of innovative money transfer services and is recognized worldwide as a financial connection to friends and family. The company offers person-to-person money transfer and payment services in more than 200 countries and territories through a global network of approximately 350,000 locations, working with retailers, international post offices, and banks.