Expands financial access, providing customers worldwide with fast, secure and near real-time payments
MoneyGram, a financial technology company creating trusted global payments and financial solutions for an increasingly connected world, and Mastercard have joined forces to advance digital money movement both domestically and across borders. MoneyGram is implementing Mastercard Move, Mastercard’s portfolio of money transfer solutions, providing its customers with enhanced access to fast, secure and near real-time payments1.
Through Mastercard Move, MoneyGram customers can use any U.S.-issued Mastercard card to send funds cross-border to 38 eligible receiving markets and counting2. Mastercard Move also supports the ability for MoneyGram customers to receive money through nearly 10 billion endpoints worldwide. Additional cross-border payment capabilities for MoneyGram customers are expected throughout 2025.
Read More on Fintech : Bank Communications Aren’t Cutting It. It’s Time to Make Digital Channels More Personal
What This Means for Customers
This collaboration enhances the end-to-end money movement experience, offering significant benefits that help customers save time, effort and money.
- Speed & convenience – Access near real-time3 funding from any U.S.-issued Mastercard card, with the ability to send funds cross-border to bank accounts, mobile wallets, Mastercard cards and cash pick-up endpoints4.
- Security & reliability – Enjoy safe, secure transactions backed by the trust and security of the MoneyGram and Mastercard networks.
- Cost-effective money movement – Benefit from an efficient, digital-first transfer process with low transaction fees.
- Greater financial accessibility – Gain enhanced access to streamlined payouts, complementing MoneyGram’s extensive network.
Financial Access through an Extensive Network
“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,” said Anthony Soohoo, Chief Executive Officer, MoneyGram. “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.”
This collaboration builds on the MoneyGram network, which extends across 200 countries and territories with approximately 450,000 retail locations and five billion digital endpoints. Mastercard Move has access to over 95% of the world’s banked population, reaching more than 180 countries and supporting over 150 currencies.
“Unlocking more efficient and secure ways to send and receive money is critical for fueling entry into the digital economy,” said Chiro Aikat, Co-President, United States, Mastercard. “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.”
MoneyGram connects the world by making the movement of money across borders seamless, affordable and secure for everyone. Each year, the company serves more than 50 million people in over 200 countries and territories, processing over $200 billion USD annually. MoneyGram spans the globe with over 2,000 employees across 36 countries, representing more than 75 nationalities. Headquartered in Dallas, Texas, and known for its strong and high-performing corporate culture globally, MoneyGram has been named a recipient of the Top Workplaces USA award for four consecutive years.
Mastercard powers economies and empowers people in 200+ countries and territories worldwide. Together with our customers, we’re building a sustainable economy where everyone can prosper. We support a wide range of digital payments choices, making transactions secure, simple, smart and accessible. Our technology and innovation, partnerships and networks combine to deliver a unique set of products and services that help people, businesses and governments realize their greatest potential.
Catch more Fintech Insights : The Shifting Consumer Credit Landscape Necessitates Credit Decisioning Platforms
[To share your insights with us, please write to psen@itechseries.com ]
