DALLAS, June 23, 2020 /PRNewswire/ -- MoneyGram
International, Inc. (NASDAQ: MGI), a global leader in
cross-border P2P payments and money transfers, today announced a
partnership with Global Money Express Co., Ltd (GME), one of the
largest money transfer and payment fintech companies in
South Korea. The partnership
enables GME 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 from
South Korea to China and South
Asia.
"Partnering with leading fintech companies is a critical
component of our strategy to accelerate digital growth,"
said Kamila Chytil, MoneyGram Chief Operating
Officer and leader of the company's digital business. "We recently
reported 100% year-over-year digital transaction growth May. Our
new partnership with GME, one of the fastest-growing fintech
companies in a key market, will further support this strong digital
growth."
This new integration with GME, combined with the recent
partnership with E9Pay, represents a significant milestone for
MoneyGram as the company strengthens its leading position in the
South Korea P2P payments and
remittance market, which has approximately $13.4 billion in annual remittance outflows,
according to the World Bank.
"We are delighted to partner with MoneyGram in a rapidly
changing, cross-border money transfer and payment market in Korea,"
said John Sung, CEO of Global Money
Express Co., Ltd. "The partnership with MoneyGram will help us
expand our payout coverage globally and also provide more
competitive and improved services to our current and potential
customers here in South
Korea."
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 Global Money Express Co., Ltd.
GME is the first non-bank financial company to be licensed and
to operate in Korea. Since its founding in 2016, it has grown
tremendously to become the top money transfer company in the
country.
Within 4 years, GME has added many more services to its
portfolio, including overseas money transfer, local transfer,
lending, money exchange, wallet services and more. GME is led by
seasoned professionals in the remittance market and currently
operates in brick-and-mortar stores, as well as its fully e-KYC
compliant mobile app.
For more information, please visit,
https://online.gmeremit.com/Website/AboutUs.
MoneyGram Media Contact:
Stephen Reiff
media@moneygram.com
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SOURCE MoneyGram