MoneyGram has teamed up with KyckGlobal to cater to gig economy workers in the US.
The money transfer firm services clients in over 200 countries.
Go deeper with GlobalData
Using MoneyGram, gig economy workers will gain access to cash payments for their work.
MoneyGram head of digital revenue Matt Frye said: “Over the last few years, MoneyGram has invested heavily to upgrade its technology infrastructure and build APIs so more companies can quickly integrate into our platform and we can thereby connect more people with our award-winning services.”
In announcing the partnership, MoneyGram cited studies that say that around one-third of gig economy workers favour same-day cash payments.
In the US, nearly 60 million people are said to be gig economy workers.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataFurthermore, MoneyGram chairman and CEO, Alex Holmes, stated: “This partnership is a great example of how we continue to execute our growth strategy to capitalize on the strength of our leading digital and physical network to serve new customers, in new ways.
KyckGlobal CRO Sam Wheeler said: “As a result of our partnership with MoneyGram, we can now better serve these workers by providing them with quick and convenient access to receive their hard-earned money in cash.”
MoneyGram was recently in the news for launching its mobile app in 15 countries, including the US.
Last November, the firm was embroiled in a legal tussle for failing to control fraudulent money transfers.
It was fined $125m for the lapses.
