MoneyGram partners with Plaid for optimised global payments

Following this announcement, MoneyGram customers in the US will be given the possibility to use Plaid’s technology in order to help authenticate their bank accounts, as well as enable fast and secure funding for both domestic and cross-border transactions. 

In addition, the partnership will also improve the MoneyGram Online (MFO) experience, while being expected to scale to additional markets later in 2025. Both Plaid and MoneyGram will continue to focus on meeting the needs, preferences, and demands of clients and users in an ever-evolving market, while prioritising the process of remaining compliant with the regulatory requirements and laws of the local industry as well.

More information on the MoneyGram x Plaid partnership

According to the official press release, customers increasingly expect and need connected financial services, with more than 75% of US clients saying that linking their bank accounts with financial apps is important. In addition, among financial technology users, over 80% prefer pay-by-bank options for their speed and added privacy. 

The collaboration will enable MoneyGram to expand its global capabilities in order to deliver faster, more secure transactions for its clients. At the same time, the deal represents an important step in the company’s strategy to make cross-border payments more affordable and efficient for customers and collaborators. 

In addition, the pay-by-bank service will connect to Plaid’s extensive network of banks and credit unions, as MoneyGram clients will benefit from improved security through Plaid’s instant account verification. This service was built on MoneyGram’s tech-powered, cross-border payment network, with spans over multiple countries and territories around the world, as well as retail locations and digital endpoints. 

For more information about Plaid, please check out their detailed profile in our dedicated, industry-specific Company Database.