MoneyGram has forged a partnership with Mastercard to implement Mastercard Move, aiming to improve the digital movement of money both within the US and across borders.
This move aims to provide MoneyGram customers with access to secure and “near real-time” payment options.
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Customers of MoneyGram can now send funds internationally to 38 eligible receiving markets using any US-issued Mastercard card.
The service also allows for the receipt of money through roughly ten billion endpoints worldwide.
Further expansion of cross-border payment capabilities is anticipated to continue through 2025.
The partnership leverages MoneyGram’s network, which covers 200 countries and includes around 450,000 retail sites and five billion digital endpoints.
MoneyGram CEO Anthony Soohoo said: “We’re excited to work with Mastercard to empower individuals and communities around the world, expanding access and choice when it comes to their finances. Our expanding global network, present in nearly every country, is one of our most valuable assets. Through strategic alliances like this, we continue to grow our network, advancing MoneyGram’s mission to make cross-border payments seamless, affordable and secure for everyone.”
Mastercard US co-president Chiro Aikat stated: “Unlocking more efficient and secure ways to send and receive money is critical for fuelling entry into the digital economy. By integrating Mastercard Move into MoneyGram’s vast network, we’re building in speed and added peace of mind into every transaction so that critical funds can get into hands when and where it’s needed.”
Mastercard Move spans over 180 countries and supports over 150 currencies.
This February, ACE Money Transfer also partnered with Mastercard Move to offer its customers real-time money transfer services.
