MoneyGram Helps e& Offer Mobile Wallets

MoneyGram is increasing its partnership with expertise and funding group e&, a transfer the businesses say will let almost 160 million individuals use the e& cell pockets to ship cash world wide in near-real time.

“As a result of our strategy to invest in our digital network that now extends to over 100 countries, we’re seeing increased demand to access our global platform,” MoneyGram Chairman and CEO Alex Holmes stated in a Tuesday (Sept. 20) press release.

“Our collaborative relationship with e& has grown to become one of our strongest and most successful digital partnerships. We’re thrilled to continue to expand our relationship as their preferred partner for cross-border payments across all of the 16 markets in which they operate.”

Founded greater than 40 years in the past as the primary telecom operator within the United Arab Emirates, e& — previously often called Etisalat Group — has since expanded to greater than 16 markets throughout Africa, Asia and the Middle East.

“International money transfer is a crucial service that enables our customers across our footprint to send and receive money from their families, given the large expat population living in the markets where we operate,” stated Mikhail Gerchuk, the corporate’s CEO.

The firms say their cash switch service is reside all through Saudi Arabia, the United Arab Emirates and Afghanistan. It is anticipated to launch in Pakistan, Egypt and a number of other different markets in Africa within the subsequent few months.

Read extra: MoneyGram, CreditCare Team to Help Unbanked in Philippines, Vietnam, Nigeria

Earlier this month, MoneyGram joined forces with shopper finance firm CreditCare to assist that firm additional its enlargement into the rising markets of the Philippines, Vietnam and Nigeria.

San Francisco-based CreditCare presents unbanked individuals monetary merchandise, comparable to private loans and remittances.

“The partnership with MoneyGram is a significant milestone in our mission to bring inclusive financial services to users in emerging markets,” a spokesperson for CreditCare Technology stated. “We believe financial services should be easy, low-cost and accessible to not just 10% of the population. The CreditCare and MoneyGram partnership provides greater access, security and simplicity for people to remit funds and get access to lines of credit.”

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