12 December 2017
visit www.solutions.lexisnexis.com

MoneyGram and Affinity Global Services team on mobile money transfer

03 August 2009  |  2636 views  |  0 Source: MoneyGram International

MoneyGram International (NYSE: MGI), a leading provider of global payment services, and Affinity Global Services, a leading mobile financial services company, today announced an agreement that will enable mobile money transfer receives in important markets around the globe, bringing greater convenience and extending the benefits of MoneyGram services to a new category of consumers.

According to the World Bank, more than 200 million people live outside their home country. Mobile networks, which are now globally available, help immigrants stay connected and mobile money transfer applications will enable these and other subscribers better manage their finances. The MoneyGram and Affinity Global Services alliance will allow consumers to use MoneyGram's agent network of over 180,000 locations around the world to send money to an account associated with a mobile device.

"In developing economies, there are more people with mobile phones than traditional bank accounts. We see a tremendous opportunity to better serve these consumers by delivering MoneyGram remittances in compelling new formats such as mobile technology," said Anthony Ryan, MoneyGram president and chief executive officer. "Our relationship with Affinity Global Services will significantly enhance our agent network by allowing us to partner with mobile network operators in key corridors such as Latin America, Asia and Africa, and provide convenient, affordable and reliable money transfer services to consumers around the world."

Affinity Global Services is the first Mobile Gateway to facilitate MoneyGram services, and will provide technical connectivity between MoneyGram and various mobile network operators. The MoneyGram mobile money transfer service will use Affinity Global's MADETM Platform, enabling MoneyGram to connect to virtually any mobile network operator. The parties are currently in discussion with a mobile network operator which is expected to be the first to launch the service to consumers later this year.

"MoneyGram understands that success in the mobile sector is about more than just technology," said Ritchie Skelding, Affinity Global Services chairman. "To make mobile money transfer services work on a global scale requires a partner with world-class systems and a willingness to partner with mobile operators. Success also takes a commitment to deliver consumer value in a simple and transparent way. There is no 'one-size-fits-all' in this rapidly evolving space so MoneyGram's entrance into the mobile money sector will help accelerate adoption of these services."

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.atos.netvisit www.response.ncr.comvisit www.solutions.lexisnexis.com

Who is commenting?

Top topics

Most viewed Most shared
Saxo Bank's 'Outrageous Prediction': Bitcoin to peak at $60k next year before spectacular crashSaxo Bank's 'Outrageous Prediction': Bitco...
11788 views comments | 7 tweets | 7 linkedin
Deutsche Bank paper hails 'huge' blockchain potentialDeutsche Bank paper hails 'huge' blockchai...
8717 views comments | 15 tweets | 21 linkedin
Santander UK poaches Barclays innovation chief Michael HarteSantander UK poaches Barclays innovation c...
7078 views comments | 8 tweets | 17 linkedin
Alior Bank to use Open API platform and accelerator to create fintech marketplaceAlior Bank to use Open API platform and ac...
6824 views comments | 20 tweets | 11 linkedin
PSD2: Laying the regulatory foundation for a new age in paymentsPSD2: Laying the regulatory foundation for...
6771 views comments | 17 tweets | 35 linkedin

Featured job

Find your next job