Consumers in Bahrain will be able to use the Beyon Money
app to send money in near real-time to over 200 countries and
territories around the world
This partnership builds upon the Company's
several recent successes with digital partners across the
Middle East, one of the world's
largest and fastest-growing outbound remittance regions
DALLAS, Nov. 14, 2022 /PRNewswire/
-- MoneyGram International, Inc. (NASDAQ: MGI)
("MoneyGram" or the "Company"), a global leader in the evolution of
digital P2P payments, today announced a new partnership with Beyon
Money, the first financial super app in Bahrain, owned by leading telecommunications
company Batelco. Through this partnership with MoneyGram, consumers
in Bahrain will be able to use the
Beyon Money app to send money in near real-time to over 200
countries and territories around the world.
The Beyon Money super app enables consumers in Bahrain to connect to local bank accounts to
review all transactions in one place, access financial insights to
observe transactions and spending habits, and send money abroad to
many countries around the world. This partnership with MoneyGram
will complement the app's existing services by enhancing its
remittance capabilities.
"Today's announcement with Beyon Money marks the latest
partnership with a leading fintech seeking to access our global
money transfer network," said Alex
Holmes, MoneyGram Chairman and CEO. "Through strategic
partnerships like these, organizations can leverage our core
capabilities to quickly add services and scale, while we're able to
increase payment volumes to create meaningful processing revenue in
the years ahead."
MoneyGram's partnership with Beyon Money also builds upon the
Company's several recent successes with digital partners across the
Middle East, one of the world's
largest and fastest-growing outbound remittance regions. According
to the World Bank1, outbound remittances from
Bahrain in particular have been
steadily increasing over the past 20 years.
"At Beyon Money, we foster speed of execution, ease of access
and low costs for our customers. Our digital remittance service
offered in our super app is highly innovative and allows customers
to send money abroad from their Beyon Money wallet or directly from
their bank account," said Roberto
Mancone, Beyon Money CEO. "This partnership with MoneyGram
fosters the development of state-of-the-art digital services
already offered to our Bahrain
clients and creates a powerful framework for the expansion of our
offer in the Gulf Cooperation Council, Middle East and North Africa."
Holmes concluded: "As we continue to execute our strategy to
expand through digital partnerships, we are creating tremendous
value for consumers and strengthening our leading position in
fast-growing markets around the world. I'm excited for our momentum
as we approach the end of the year."
The service is expected to be live for consumers this year.
About MoneyGram International, Inc.
MoneyGram International, Inc. (NASDAQ: MGI), a global leader in
the evolution of digital P2P payments, delivers innovative
financial solutions to connect the world's communities. With a
purpose-driven strategy to mobilize the movement of money, a strong
culture of fintech innovation, and leading customer-centric
capabilities, MoneyGram has grown to serve over 150 million people
in the last five years. The Company leverages its modern, mobile,
and API-driven platform and collaborates with the world's top
brands to serve consumers through its direct-to-consumer digital
channel, global retail network, and embedded finance business for
enterprise customers. MoneyGram is also a leader in pioneering
cross-border payment innovation and blockchain-enabled settlement.
For more information, please visit ir.moneygram.com, follow
@MoneyGram on social media and explore the website and mobile app
through moneygram.com.
About Beyon Money
Owned by Batelco (Bahrain Telecommunications Company), Beyon
Money is a leading mobile wallet operating in the Kingdom of
Bahrain. With Beyon Money, you can
connect your bank accounts, access financial insights to observe
transactions and spending habits, pay with your prepaid card all
over the World, pay bills and send funds abroad instantly all in
one place, making Beyon Money the one-stop destination for managing
all your money seamlessly, securely and transparently.
MoneyGram Media Contact
Sydney Schoolfield
media@moneygram.com
Batelco Media Contact
Madeleine Doporto
Madeleine.doporto@btc.com.bh
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SOURCE MoneyGram