DALLAS, May 19, 2020 /PRNewswire/ -- MoneyGram
International, Inc. (NASDAQ: MGI), a global leader in
cross-border P2P payments and money transfers, today announced a
partnership with E9Pay, one of the largest money transfer and
payment fintech companies in Korea. The partnership enables E9Pay
customers to connect to the MoneyGram platform and distribution
network in over 200 countries and territories. The integration will
especially benefit consumers who send money between Southeast Asia, Russia, and the Commonwealth of Independent
States (CIS), which are the main corridors for E9Pay.
"As we continue to closely manage the ongoing COVID-19
situation, we're also continuing to push forward on our strategy,"
said Alex Holmes MoneyGram Chairman and CEO. "E9Pay has a strong
culture of innovation with a loyal customer base of avid users, and
this partnership enables E9Pay customers access to our global
platform, including our account deposit capabilities."
The new E9Pay relationship follows other successful MoneyGram
partnerships in the region, such as Woori
Bank, Shinhan Bank, Korea Post, Kyongnam Bank, and Sentbe,
that are helping MoneyGram capture a more significant portion of
the approximate $13.4 billion in
annual remittance outflows, per the World Bank.
"We are very excited to partner with MoneyGram in a
rapidly-changing, cross-border money transfer and payment market in
South Korea," said Jeon Hyuk Goo, CEO of E9Pay Co., Ltd. "We
believe the best way to reach and help our customers is through
collaboration with the prestigious MoneyGram brand. E9Pay firmly
expects to continue to develop mutually beneficial business through
strategic partnerships with MoneyGram."
"We're excited about how E9Pay is leveraging the strong consumer
demand for our account deposit services, which is especially
important given the ongoing global pandemic so that consumers can
receive money from the comfort and safety of their own homes,"
said Kamila Chytil, MoneyGram Chief Operating
Officer and leader of the company's digital efforts. "E9Pay
utilized our API-driven infrastructure to enable a quick and
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 over 70 countries now digitally
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
For more information, please visit MoneyGram.com and follow
About E9Pay Co., Ltd.
E9Pay is the first company to acquire the Overseas Remittance
Business No. 1 License from Ministry of Economy and Finance (MOEF)
of South Korea, providing overseas
remittance/receipt services to/from 126 countries as of
March 2020, including Nepal, Cambodia, Sri
Philippines, Indonesia, and China.
[E9VISA+PAY=E9PAY] is providing an overseas remittance service,
focusing on the demand for overseas remittances/receipts of
2,400,000 foreign workers living and working in South Korea. In July
2019, E9Pay obtained Innovative Financial Service from MOEF,
which was provided financial services differentiated from existing
financial techniques by utilizing new IT technologies.
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