ANI |
Updated: Apr 03, 2024 10:18 IST

PRNewswire
Singapore, April 3: MoneyGram International, Inc., (“MoneyGram” or the “Company”), a number one world monetary know-how firm that connects the world’s communities, in the present day introduced a brand new partnership with Tencent Financial Technology, the fintech division of Tencent. The partnership permits customers to ship funds by way of MoneyGram Online, MoneyGram’s main direct-to-consumer web site and app, on to recipients’ Weixin Pay pockets, a number one cost and digital wallet service in China.
“As consumers increasingly seek frictionless digital payout options, MoneyGram continues to roll out customer-centric solutions around the world,” stated John Gely, MoneyGram Regional Head of Asia Pacific and South Asia. “MoneyGram has grown to serve over 150 million people in the last five years, and our business in now digitally enabled in more than 150 countries. Through this partnership with Tencent Financial Technology, we are proud to offer this fast, easy and reliable method to receive money in a market that so heavily relies on remittances.”

According to the World Bank, China acquired $51 billion in remittances in 2022, rating the third highest obtain nation for remittances on the planet. As China has one of many world’s largest web person bases and has skilled a surge in e-commerce and cell funds, customers are more and more in search of digital strategies as an finish level in cross-border transfers. Through consumer-centric collaborations such because the partnership introduced in the present day, MoneyGram continues to satisfy that client demand.
“In today’s ever more interconnected world, our unwavering commitment to facilitating seamless cross-border transactions remains a central focus of our global initiatives,” stated Royal Chen, Vice President of Tencent Financial Technology. “With our new partnership with MoneyGram, we are working together to take significant strides toward fortifying global connections and empowering individuals and families as well as simplifying remittance such that it’s as effortless as sending a message.”
About MoneyGram International, Inc.
MoneyGram International, Inc. is a worldwide monetary know-how firm enabling customers and companies to maneuver and handle cash in almost each nation world wide. Through its modern cross-border platform, MoneyGram gives thousands and thousands of customers globally the flexibility to ship cash residence for household and mates to choose up in money or obtain on to a checking account, cell pockets or card. The Company is a pioneer in using blockchain know-how at scale and likewise permits customers to purchase, promote and maintain digital currencies on its industry-leading app. With one of many world’s most in depth and dynamic money distribution networks, MoneyGram has turn into the only largest on and off-ramp supplier for digital currencies on the planet. The MoneyGram crew spans the globe with over 2,000 workers throughout over 30 international locations, representing greater than 75 nationalities. Headquartered in Dallas, Texas, and identified for its robust company tradition globally, MoneyGram has been named a recipient of the Top Workplaces USA award for 3 consecutive years. By the numbers, MoneyGram serves greater than 50 million individuals in over 200 international locations and territories annually, processing greater than $200 billion USD yearly. Relentlessly digital-first and customer-centric, the Company’s digital transactions now account for over 50% of its cash switch enterprise.
About Tencent Financial Technology
Tencent is a world-leading web and know-how firm that develops modern services and products to enhance the standard of life of individuals world wide. Tencent Financial Technology is Tencent’s fintech division that gives complete cell cost and monetary companies. Tencent Financial Technology follows the rules of operation in compliance with the legislation, providing high-quality services and products, steady threat management, openness and doing enterprise for good. Tencent Financial Technology is dedicated to fueling monetary inclusion and constructing an open ecosystem with world companions.

Tencent Financial Technology
https://www.fitgroup.com/en/home
Tencent
https://www.tencent.com/zh-cn/index.html
MoneyGram Online
https://www.moneygram.com/mgo/au/en/
Weixin Pay
https://pay.weixin.qq.com/index.php/public/wechatpay
World Bank
https://www.worldbank.org/en/news/press-release/2023/06/13/remittances-remain-resilient-likely-to-slow#:~:text=The%20top%20five%20recipient%20countries,and%20Pakistan%20(%2430%20billion).
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