Cross-border payments and money transfer company MoneyGram has inked a partnership with Global Money Express, the South Korean money transfer and payment FinTech company.
The deal will enable Global Money Express’ customers to connect to MoneyGram’s platform and distribution network in over 200 countries and territories. The integration will especially benefit consumers who send money from South Korea to China and South Asia.
“Partnering with leading FinTech companies is a critical component of our strategy to accelerate digital growth,” said Kamila Chytil, COO and leader of MoneyGram’s digital business. “We recently reported 100% year-over-year digital transaction growth May. Our new partnership with [Global Money Express], one of the fastest-growing FinTech companies in a key market, will further support this strong digital growth.”
MoneyGram hailed the deal and its recent partnership with E9Pay as a “significant milestone” as the company is looking to srengthen its leading position in the South Korea P2P payments and remittance market.
“We are delighted to partner with MoneyGram in a rapidly changing, cross-border money transfer and payment market in Korea,” said John Sung, CEO of Global Money Express. “The partnership with MoneyGram will help us expand our payout coverage globally and also provide more competitive and improved services to our current and potential customers here in South Korea.”
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