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.
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.
“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.