DALLAS, June 25, 2020 /PRNewswire/ -- MoneyGram
International, Inc. (NASDAQ: MGI), a global leader in
cross-border P2P payments and money transfers, today announced a
partnership with Digital Financial Services LLC, a joint
venture of Etisalat and also Noor
Bank, which was acquired earlier this year by Dubai Islamic
Bank. The partnership enables millions of eWallet customers to make
cross-border money transfers in real-time to friends and family in
over 200 countries and territories through an expansive network of
mobile wallet operators, bank account deposit services, and walk-in
locations.
"Etisalat, like MoneyGram, has digitized its business to adapt
to the increasingly tech-savvy lifestyles of its customers in the
UAE," said Grant Lines, Chief
Revenue Officer at MoneyGram. "We're excited about how this
partnership builds upon our strong momentum in the Middle East market and further accelerates
digital growth as we expand our customer-centric capabilities to
the third largest outbound remittance country in the world."
Regulated and licensed by the Central Bank of the UAE, eWallet
is a revolutionary digital payment service aimed at empowering UAE
residents with safe, convenient and flexible payment solutions
through an easy-to-use eWallet mobile app.
Unlike other mobile wallets and payment apps, eWallet does not
require customers to have a bank account, credit or debit card to
conduct digital payments. Customers only need a valid Emirates ID
and a UAE mobile number to open an eWallet account. Once
registered, users can instantly top-up their wallet balance to
start sending and receiving money, transferring to bank accounts,
conducting merchant payments, or paying bills.
Commenting on the partnership, Ahmed Al Awadi, Chairman of
Digital Financial Services said, "eWallet continues to be an
innovative solution that enhances the way UAE residents conduct
financial transactions today. Our partnership with MoneyGram will
further enrich our customers' lives with a state-of-the-art user
experience which MoneyGram is renowned for and will boost our
future expansion plans."
About MoneyGram International, Inc.
MoneyGram is a global leader in cross-border P2P payments and
money transfers. Its consumer-centric capabilities enable family
and friends to quickly and affordably send money in more than 200
countries and territories, with more than 70 countries now
digitally enabled.
MoneyGram leverages its modern, mobile, and API-driven platform
and collaborates with the world's leading brands to serve millions
of people each year through both its walk-in business and its
direct-to-consumer digital business.
With a strong culture of innovation and a relentless focus on
utilizing technology to deliver the world's best customer
experience, MoneyGram is leading the evolution of digital P2P
payments.
For more information, please visit www.MoneyGram.com and
follow @MoneyGram.
About eWallet
eWallet is the new digital payment solution that enables
consumers, agents, merchants and corporations to make and receive
their payments in an easy, fast and secure way. The service is
available via smartphone applications for consumers; web portals,
smartphone applications and direct interface using APIs for agents,
merchants and corporations. Digital Financial Services LLC owns the
brand eWallet and is born out of the partnership between Etisalat
and Noor Bank. eWallet will provide
the UAE with an opportunity to shift to a cashless economy that is
open to all.
Etisalat Media Contact
Nancy
Sudheer, Corporate Communications
nsudheer@etisalat.ae
MoneyGram Media Contact
Stephen Reiff
media@moneygram.com
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SOURCE MoneyGram