MoneyGram, a Dallas based money transfer and payment services company, has entered into a partnership with PicomoPay to facilitate online money transfers through PicomoPay’s Facebook application.

The agreement allows MoneyGram’s consumers in the US to make transfers through PicomoPay’s Facebook application to more than 336,000 MoneyGram agent locations in more than 200 countries.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

The new social media money transfer service will be available to consumers in May.

PicomoPay, a social and mobile payments platform integrated within Facebook, allows consumers to make person-to-person payments that are funded by its Digital Wallet, and also buy and send virtual gift cards on Facebook.

PicomoPay Corporate Communications vice president, Shoko Tsuji, said: "By leveraging growing payment trends on Facebook, the PicomoPay team is helping meet the huge demand for sending funds back to family and friends in their home markets.

"Our alignment with MoneyGram provides an extensive global network that allows consumers to transfer funds to their loved ones securely and easily," Tsuji added.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

MoneyGram Global Product & Emerging Channels executive vice president, Alex Hoffmann, said: "The opportunity to have a relationship with PicomoPay furthers our goal of accelerating the growth of our self-service channels.

"By working with a company that has already succeeded in monetizing social media, we are giving our consumers innovative options to send money for life’s essentials, however they want, wherever that want, whenever they want," Hoffmann said.