DALLAS, Aug. 24, 2020 /PRNewswire/ -- MoneyGram
International, Inc. (NASDAQ: MGI), a global
leader in cross-border P2P payments and money transfers, today
announced four mobile wallet and fintech partnerships that give the
Company access to mobile wallets in 28 markets in Africa, creating the largest footprint in the
industry. As mobile money adoption rapidly grows in Africa, these new partnerships with Airtel,
Thunes, InTouch and MFS Africa will help drive strong digital
growth as the Company continues to execute its customer-centric
- Airtel, a leading provider of telecommunication and
mobile money services, has a presence in 14 countries across
Africa and over 19 million
customers alone. Through this collaboration, customers will be able
to receive funds from around the world, access the money
immediately, transfer to other individuals, or convert to cash at
many available branches, kiosks and agents.
- Thunes, InTouch and MFS Africa, prominent 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.
Services at Thunes and InTouch begin as early as this week,
while the partnerships with Airtel and MFS Africa will go live in
the next few months.
"Our digital business has seen amazing growth over the past
several years, and these new partnerships are important milestones
as we execute our strategy to accelerate digital growth by
expanding access to mobile wallet capabilities," said Kamila Chytil, MoneyGram Chief Operating Officer
and leader of the Company's digital business. "Customer demand for
mobile wallets has increased significantly over the last few years
and with the onset of the global pandemic, the launch of these
strategic partnerships is more important than ever."
According to the GSMA's 2019 State of the Industry Report on
Mobile Money, the mobile money industry is recording astonishing
growth with roughly $730 billion
global transactions in 2019. The organization reports Africa as one of the fastest growing mobile
money transaction continents in the world with an estimated 190
million active wallets.
"Africa is seeing significant
growth in mobile money adoption across the continent, and we're
excited to partner with Airtel, Thunes, InTouch and MFS Africa to
further support our collective goals to mobilize the movement of
money," said Grant Lines, MoneyGram
Chief Revenue Officer. "We continue to execute our plan to overhaul
major receive markets, and I look forward to building upon our
strong momentum in Africa through
these new partnerships."
MoneyGram recently reported that its global account deposit and
mobile wallet transactions increased 165% in July, which is an
acceleration from the second quarter where the Company reported
148% year-over-year transaction growth. These partnerships are
expected to further support this strong growth.
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 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
For more information, please visit MoneyGram.com and follow
View original content to download