Through this partnership expansion, e&
international's large and fast-growing customer base can now use
the e& money mobile wallet to send money around the world in
near real-time
The service is now live throughout
Saudi Arabia, the United Arab Emirates and Afghanistan with Egypt, Pakistan and several other markets in
Africa expected to launch in the
next few months
DALLAS, Sept. 20,
2022 /PRNewswire/ -- MoneyGram International, Inc.
(NASDAQ: MGI), a global leader in the evolution of digital P2P
payments, and e& international from e& (formerly known as
Etisalat Group), one of the world's leading technology and
investment conglomerates, today announced an expansion to their
strategic partnership. The expansion enables e& international's
large and fast-growing customer base of nearly 160 million to use
the e& money mobile wallet to send money around the world in
near real-time. Through MoneyGram's expansive network of mobile
wallet operators, bank account and card deposit services, and
retail locations, recipients around the world now have the ability
to choose how to receive money based on their unique needs.
"As a result of our strategy to invest in our digital network
that now extends to over 100 countries, we're seeing increased
demand to access our global platform. As more digital partners seek
to embed our leading fintech capabilities into their service
offerings, we see a significant growth opportunity to efficiently
add transactions to our scalable platform," said Alex Holmes, MoneyGram Chairman and CEO. "Our
collaborative relationship with e& has grown to become one of
our strongest and most successful digital partnerships. We're
thrilled to continue to expand our relationship as their preferred
partner for cross-border payments across all of the 16
markets in which they operate."
Established over four decades ago in the United Arab Emirates (UAE) as the country's
first telecom operator, Etisalat Group has changed its brand
identity to e& and expanded to over 16 markets across
Africa, Asia and the Middle
East. The continued success and expansion of the MoneyGram
and e& international partnership builds upon the Company's
strong momentum as it scales its high-growth digital business
across the region.
"As more people across the world embrace digital financial
services, we are continuously seeking new ways to empower our
customers with the best solutions, and embark on value-adding
partnerships that help them to access financial services quickly
and easily," said Mikhail Gerchuk, CEO, e& international.
"International money transfer is a crucial service that enables our
customers across our footprint to send and receive money from their
families, given the large expat population living in the markets
where we operate."
"We have always aimed to revolutionize customer experience
through innovative solutions that help meet the financial needs of
our customers," said Khalifa Al
Shamsi, CEO, e& life. "The strategic partnership with
MoneyGram has been enabling us to continue building this solid
foundation of growth, adding to the array of financial products and
services that enhance and add value to our customers' lives. We
will continue to work with MoneyGram and its vast network for the
benefit of e& money subscribers while addressing the growing
demand for a financial super app marketplace."
The service is now live throughout Saudi Arabia, the United Arab Emirates and Afghanistan with Egypt, Pakistan and several other markets in
Africa expected to launch in the
next few months.
About MoneyGram International, Inc.
MoneyGram
International, Inc. (NASDAQ: MGI),
a global leader in the evolution of digital P2P payments, delivers
innovative financial solutions to connect the world's communities.
With a purpose-driven strategy to mobilize the movement of money, a
strong culture of fintech innovation, and leading
customer-centric capabilities, MoneyGram has grown to
serve over 150 million people in the last five years. The Company
leverages its modern, mobile, and API-driven platform
and collaborates with the world's top brands to serve consumers
through its direct-to-consumer digital channel, global retail
network, and embedded finance business for enterprise
customers. MoneyGram is also a leader in pioneering
cross-border payment innovation and blockchain-enabled settlement.
For more information, please visit
ir.moneygram.com, follow
@MoneyGram on social media, and explore the website
and mobile app through
moneygram.com.
About e& international
Etisalat Group has
changed its brand identity to e&, effective from
23 February 2022. Its strategy aims
to accelerate growth through the creation of a resilient business
model representing the Group's main business pillars. The
telecoms business currently continues to be led by
Etisalat by e& in
e&'s home market and by existing
subsidiaries for e& international, upholding the
Group's rich telecoms heritage, bolstering the
strong telecoms network and maximizing value for the
Group's various customer segments. Ramping up the digital services
for individual customers to elevate their digital-first
lifestyle, e& life brings next-generation
technologies through smart connectivity platforms in entertainment,
retail and financial technology. To enable the digital
transformation of governments, large-scale enterprises and
corporates, e& enterprise focuses on
maximizing value through its end-to-end solutions in cybersecurity,
cloud, Internet of Things (IoT) and Artificial
Intelligence (AI), as well as deploying mega
projects. e& capital allows the Group to
focus its efforts on driving new mergers and acquisitions while
maximizing shareholder value and strengthening global
presence.
MoneyGram Media Contact
Sydney Schoolfield
media@moneygram.com
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SOURCE MoneyGram