Source: Ukash
MoneyGram (NYSE:MGI), a leading global money transfer company, and Ukash, a leading U.K.-based online cash payment provider and winner of the Queen's Award for Enterprise for the third consecutive year, have signed a global agreement that will give Ukash customers the ability to send domestic and international money transfers from the Ukash website and receive it at any of MoneyGram's more than 310,000 locations worldwide or through MoneyGram's account deposit channels.
The initial service will launch in the U.K. later this year with plans to expand into other markets expected shortly thereafter. Ukash operates in 57 countries and has more than 460,000 points of sale.
"MoneyGram's global network makes the Ukash service accessible to an even wider audience of customers. We now will be able to extend the convenience of transacting online, to more people who may not use traditional banking facilities," said David Hunter, chief executive officer, Ukash. "Our job is to offer more convenient sources for people to use their cash in the 'connected world,' which may often appear to be accessible only to credit or debit cardholders. Our alliance with MoneyGram is a great example of this philosophy in action."
"Our agreement with Ukash reflects MoneyGram's strategy to work with industry leaders to expand accessibility to our services around the world," said Tim Summers, head of emerging channels and strategic partnerships, MoneyGram. "We look forward to working with Ukash, which has established itself as a true innovator in the global e-money sector."