Saudi Arabia's tiqmo and MoneyGram partner to power cross-border money movement
MoneyGram has teamed up with Saudi Arabia-based financial app tiqmo to enable international money transfers, according to a press release by Zawya.
Through this collaboration, tiqmo users in Saudi Arabia can now access MoneyGram's global network to send funds to over 200 countries and territories.
The partnership provides tiqmo customers with the ability to reach more than five billion digital endpoints and over 480,000 MoneyGram locations worldwide, the press release said.
Users will have options to send and receive money in over 120 currencies.
The service is expected to be particularly useful for customers sending money to countries such as India, Pakistan, Bangladesh, the Philippines, Egypt, Indonesia, and Nepal.
The new service is now operational and available to all tiqmo users in Saudi Arabia.
tiqmo managing director Abdulaziz Al Ajlan said: 'We believe that our partnership with MoneyGram will strengthen tiqmo's portfolio of international financial services and connect our customers with a payment brand known around the world.
'In line with Vision 2030 and the Kingdom's digital transformation objectives and in pursuit of our goal to redefine digital financial services, we are delighted to welcome MoneyGram into our world-class digital payments ecosystem for the MENA financial services and marketplace.'
MoneyGram Middle East, South Asia & Asia Pacific head Ahmed Aly stated: 'This partnership reflects MoneyGram's leadership in enabling digital cross-border payments and advancing financial inclusion across the region.
'By expanding our digital network through this collaboration with tiqmo- one of the Kingdom's most innovative and fast-growing wallets- we are reinforcing our role as a key enabler of remittance innovation and supporting Saudi Arabia's Vision 2030 towards a more inclusive and digital empowered financial ecosystem.'
tiqmo's services include bank account transfers, digital wallet transfers, cash pick-up, bill payments, and mobile top-ups.
Since its launch in 2024, tiqmo has been serving regions across the Middle East and North Africa (MENA) and is licensed by the Saudi Central Bank.
Last month, MoneyGram unveiled MoneyGram Ramps, an API that facilitates cash-to-crypto and crypto-to-cash services through a single integration.
"Saudi Arabia's tiqmo and MoneyGram partner to power cross-border money movement " was originally created and published by Electronic Payments International, a GlobalData owned brand.
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