Through this partnership expansion, e& international’s large and fast-growing customer base can now use the e& money mobile wallet to send money around the world in near real-time
The service is now live throughout Saudi Arabia, the United Arab Emirates and Afghanistan with Egypt, Pakistan and several other markets in Africa expected to launch in the next few months
MoneyGram International, Inc. (NASDAQ: MGI), a global leader in the evolution of digital P2P payments, and e& international from e& (formerly known as Etisalat Group), one of the world’s leading technology and investment conglomerates, today announced an expansion to their strategic partnership. The expansion enables e& international’s large and fast-growing customer base of nearly 160 million to use the e& money mobile wallet to send money around the world in near real-time. Through MoneyGram’s expansive network of mobile wallet operators, bank account and card deposit services, and retail locations, recipients around the world now have the ability to choose how to receive money based on their unique needs.
“As a result of our strategy to invest in our digital network that now extends to over 100 countries, we’re seeing increased demand to access our global platform. As more digital partners seek to embed our leading fintech capabilities into their service offerings, we see a significant growth opportunity to efficiently add transactions to our scalable platform,” said Alex Holmes, MoneyGram Chairman and CEO. “Our collaborative relationship with e& has grown to become one of our strongest and most successful digital partnerships. We’re thrilled to continue to expand our relationship as their preferred partner for cross-border payments across all of the 16 markets in which they operate.”
Established over four decades ago in the United Arab Emirates (UAE) as the country’s first telecom operator, Etisalat Group has changed its brand identity to e& and expanded to over 16 markets across Africa, Asia and the Middle East. The continued success and expansion of the MoneyGram and e& international partnership builds upon the Company’s strong momentum as it scales its high-growth digital business across the region.
“As more people across the world embrace digital financial services, we are continuously seeking new ways to empower our customers with the best solutions, and embark on value-adding partnerships that help them to access financial services quickly and easily,” said Mikhail Gerchuk, CEO, e& international. “International money transfer is a crucial service that enables our customers across our footprint to send and receive money from their families, given the large expat population living in the markets where we operate.”
“We have always aimed to revolutionize customer experience through innovative solutions that help meet the financial needs of our customers,” said Khalifa Al Shamsi, CEO, e& life. “The strategic partnership with MoneyGram has been enabling us to continue building this solid foundation of growth, adding to the array of financial products and services that enhance and add value to our customers’ lives. We will continue to work with MoneyGram and its vast network for the benefit of e& money subscribers while addressing the growing demand for a financial super app marketplace.”
The service is now live throughout Saudi Arabia, the United Arab Emirates and Afghanistan with Egypt, Pakistan and several other markets in Africa expected to launch in the next few months.