View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
March 19, 2021

MoneyGram, Pay+ to power cross-border remittances for consumers in Oman

MoneyGram International has expanded its digital reach in the Middle East by rolling out its international remittance capabilities on mobile wallet Pay+.

Powered by Ooredoo Oman and the National Bank of Oman (NBO), Pay+ will enable consumers in Oman to make deposits, withdrawals, bill payments. It will also allow them to make local and international fund transfers.

The alliance is expected to be live for consumers from the next month.

Ooredoo CEO Ian Dench said: “Pay+ was designed with customer needs in mind and together with our partners, MoneyGram and NBO, the ground-breaking mobile wallet will continue to set standards in the Sultanate’s evolving digital payments ecosystem.”

As a result of the partnership, Pay+ users can transfer funds in near real-time across MoneyGram’s global distribution network covering over 200 countries and territories.

Oman is one of the largest markets in outbound international remittances, noted MoneyGram.

The tie-up is said to reinforce MoneyGram’s position in the Middle East and expedites digital growth as the firm expands its capabilities to Oman.

MoneyGram chairman and CEO Alex Holmes said: “Consumer demand for real-time payments and mobile wallets continues to surge, so this expansion with one of our largest and fastest growing digital partners is yet another milestone on our journey to lead the evolution of digital P2P payments.

“As our digital partners are increasingly looking to utilise our modern, mobile and API-driven infrastructure, this integration through Pay+ will provide scale to its existing digital offerings and instant access to our cross-border payments and money transfer services.”

Earlier this month, MoneyGram announced a five-year extension to its collaboration with telecommunications operator Ooredoo Qatar. The extended partnership enables MoneyGram users to continue to send money through Ooredoo Money Wallet.

Last June, MoneyGram signed a remittance partnership with Digital Financial Services, a joint venture of Etisalat and Noor Bank.

The alliance enables users of eWallet, a digital payment service in the UAE owned by Digital Financial Services, to make cross-border remittances to more than 200 countries and territories.

 

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Wednesday.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Electronic Payments International