With this collaboration, the National Commercial Bank Financial Group (NCBFG) powered Lynk aims to extend its offering to include digital receive capabilities and, as per the information detailed in the announcement, MoneyGram is amongst the first money transfer organisations to bring this capability to market in Jamaica.
Commenting on the announcement, Alex Holmes, MoneyGram Chairman and CEO advised that they are ‘thrilled’ to partner with Lynk to provide Jamaica-based consumers with a digital alternative to receiving money sent from loved ones living abroad. As per their statement, over the past years, the company has positioned itself to meet the consumer demand as it is shifting online, and Lynk is joining a ‘roster’ of digital partners that helps the company expand its mobile wallet capabilities into some of the largest receive markets throughout the globe.
The collaboration enables Lynk to leverage the company’s global payment rails for the expansion of its set of offerings and the inclusion of international digital receive capabilities. Having a common focus on customer-centricity, MoneyGram and Lynk are offering consumers in Jamaica a method to collect funds sent from loved ones around the world in an increasingly fast, convenient, and safe manner.
Vernon James, Lynk’s Chief Executive Officer stated that this development was designed with customer needs in mind, adding that international money transfer is a crucial service in the region and that the company is proud to collaborate with MoneyGram to enable its customers to receive money on the go, be that from the comfort of their own homes, or anyplace else.
Alongside its newly implemented remittance feature, the app gives users the option of purchasing mobile credit, paying bills at more than 300 locations, transferring to other Lynk accounts, and paying for goods and services at over 5,000 local businesses in Jamaica.
Adding on the partnership, Grant Lines, MoneyGram’s Chief Revenue Officer stated that the announcement marks an important development for consumers in Jamaica, which is one of the largest inbound markets globally with money coming from loved ones from the company’s top outbound markets of the likes of the US and Canada.
As the company is the first international money transfer organisation to partner with the mobile wallet owned by NCBFG, which controls more than 60% of the region’s payment market, MoneyGram believes consumers will be provided with increased choice and flexibility.
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