Digital money transfer service MoneyGram (NASDAQ: MGI) announced on Monday it has formed four mobile wallet and fintech partnerships that will give MoneyGram access to mobile wallets in nearly 30 markets in Africa. The partnerships are with the following:
- Airtel, A provider of telecommunication and mobile money services, has a presence in 14 countries across Africa and over 19 million customers alone.
- Thunes, InTouch, and MFS Africa: 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.
Speaking about the collaborations, Kamila Chytil, COO of Moneygram, stated:
“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.”
Grant Lines, MoneyGram Chief Revenue Officer, added:
“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. 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 describes itself as a global provider of innovative money transfer services and is recognized worldwide as a financial connection to friends and family. The company offers person-to-person money transfer and payment services in more than 200 countries and territories through a global network of approximately 350,000 locations, working with retailers, international post offices, and banks.