MoneyGram is an omnichannel money transfer and payment services provider operating in more than 200 countries and territories
Money transfer company MoneyGram has partnered with Wing (Cambodia) Limited Specialised Bank, a Cambodia-based mobile banking service provider, to provide a new service for its customers.
The collaboration is aimed at enabling MoneyGram customers to remit and receive money directly into their mobile wallets through Wing Money mobile app.
MoneyGram president and CEO Alex Holmes said: “With 80 percent of our online transactions being made on a mobile device, we are looking to provide even more options for our customers using our digital platforms.
“Wing is at the forefront of mobile money and electronic payments, and this mobile wallet tool will serve as a valuable asset for the under-banked in Cambodia, allowing consumers to conveniently and reliably send money across digital boundaries from anywhere.”
According to the National Bank of Cambodia, money sent home from Cambodians working abroad is an important source of income for families to pay their daily expenses, invest in and repay loans. In 2018, Cambodian migrant working abroad sent funds totalling $1.4bn back into the country.
MoneyGram is an omnichannel money transfer and payment services provider, operating in more than 200 countries and territories.
The advanced MoneyGram platform is set to leverage its digital and physical network, global financial settlement engine, cloud-based infrastructure with integrated APIs, and its compliance program.
Wing provides mobile banking services in Cambodia
Established in 2009, Wing is engaged in providing financial inclusion to the unbanked and under-banked.
The company supports local money transfers, bill payments and phone top-ups, online shopping and QR payment, along with instant international money transfer from more than 200 countries, and has collaborations with more than 25,000 industry partners including Mastercard and WorldRemit.
Furthermore, it provides payroll and disbursement services for small and medium enterprises, along with larger companies, to further develop its payment ecosystem.
Wing chief executive officer Manu Rajan said: “It’s our commitment to provide every Cambodian with convenient access to mobile financial services relevant to, and for the improvement of, their daily lives. Our partnership with MoneyGram has allowed us to increase our global presence and keep friends and family from around the world connected.
“MoneyGram is an innovative company and their omnichannel strategy helps give these customers more choice. This new service is just one more example of how we never stop working to provide the people of Cambodia with the best products and services possible.”