KyckGlobal has expanded its partnership with MoneyGram International, enlarging its global payout network to more than 120 countries.
Based on a single point of reconciliation, a range of payment types is featured in the KyckGlobal’s outbound payments platform.
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The MoneyGram cash payout service is said to be one of the popular payment types available in this cloud-based platform.
It enables payees to receive their money from MoneyGram walk-in location across its global distribution network using a code sent to them from the platform through text message or email.
The majority of the newly-served countries are located in eastern and western Europe where cash is a preferred mode to receive payments, the company noted.
KyckGlobal founder and CEO Ashish Bahl said: “While we’ve recently seen a significant level of innovation in digital cross-border B:C disbursements spanning RTP (Real Time Payments) and Push Debit (Visa Direct), consumer demand for cash seems to have been greatly overlooked.
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By GlobalData“For companies seeking to make hassle-free cross-border payments to consumers with no card product or local bank account, MoneyGram’s ‘cash-as-a-service’ offering is a compelling solution.”
MoneyGram International Payments head Jay Hambley said: “We’re excited about the expansion of our partnership with KyckGlobal as we continue to expand the types of cross-border payment use cases that can leverage our API-driven platform to provide access to our global distribution network.”
KyckGlobal expects to offer the expanded service in the new countries from the second quarter of this year.
