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August 31, 2018

MoneyGram and GCash expand money transfer service

MoneyGram has partnered with micropayment service GCash, to launch a new money transfer service.

In the Philippines there is over 10 million GCash mobile wallets.

The remittances can be carried out through MoneyGram’s online service or at its locations across 200 countries and territories globally.

Funds will be deposited in Philippines’ currency into the mobile wallets within minutes. The money can be used instantly for goods and service purchases or to pay bills online.

MoneyGram chairman and CEO Alex Holmes said: “With the growing number of Overseas Filipino Workers (OFWs) looking for a reliable way to send money back home, the collaboration with GCash aligns with our strategy to provide user-friendly, rapid-response and low-cost channels to send money across borders.”

MoneyGram also unveiled an OFW Family Card to enable free cash withdrawal two times a month at any BancNet ATM across the country.

The card will be provided to registered and verified GCash users who receive a certain amount of funds through MoneyGram between 15 September and 30 December.

The companies initially collaborated in February this year to accelerate financial inclusion in the country.

GCash operator Mynt president and CEO Anthony Thomas said: “We are delighted to partner with MoneyGram once more to improve the way remittances are processed in the Philippines.

“GCash is committed to make the experience of sending money more convenient for both the sender and receiver.”

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