In essence, MoneyGram is integrating Mastercard Move, a suite of money transfer solutions, to improve payment processing efficiency for its customers.
Under this collaboration, MoneyGram users with U.S.-issued Mastercard cards can send funds internationally to 38 receiving markets, with more destinations expected to be added. The integration also facilitates fund receipt through nearly 10 billion endpoints worldwide, and additional cross-border payment options are planned for 2025.
Following the initiative between the two companies, customers will be able to transfer funds in near real-time to various endpoints, including bank accounts, mobile wallets, Mastercard cards, and cash pick-up locations. Transactions are supported by the security frameworks of both companies, aiming to provide reliable financial services with competitive transaction fees.
In the company press release, a representative from MoneyGram stated that the company’s international network is one of its key strengths, and partnerships like this contribute to its goal of making global payments more accessible and cost-effective. The company operates in 200 countries and territories, with approximately 450,000 retail locations and five billion digital endpoints.
A Mastercard official highlighted the importance of efficient and secure money transfers in facilitating wider participation in the digital economy. By incorporating Mastercard Move into MoneyGram’s network, the partnership aims to enhance transaction speed and security, ensuring funds reach recipients when needed.
Mastercard Move is accessible in over 180 countries and supports transactions in more than 150 currencies. The collaboration reinforces ongoing efforts to expand financial connectivity and improve digital payment solutions around the world.
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