Latest news with #AhmedAly
Yahoo
2 days ago
- Business
- Yahoo
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. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Fintech News ME
2 days ago
- Business
- Fintech News ME
MoneyGram and tiqmo Launch International Transfer Service in Saudi Arabia
MoneyGram, a US-based global payments network, has announced a partnership with tiqmo, a financial technology firm headquartered in Saudi Arabia. The collaboration allows tiqmo users in the Kingdom to send international money transfers to more than 200 countries and territories through MoneyGram's global infrastructure. The integration gives tiqmo users access to over five billion digital endpoints and more than 480,000 MoneyGram locations worldwide, with support for transactions in over 120 currencies. Customers will be able to send funds through a range of methods, including bank account and digital wallet transfers, mobile top-ups, cash pick-ups, and bill payments. Launched in 2024, tiqmo is licensed by the Saudi Central Bank and has rapidly grown into a prominent digital wallet in Saudi Arabia and the wider Middle East and North Africa region. The firm cited MoneyGram's global reach and operational footprint in Saudi Arabia, one of the world's largest remittance-sending countries, as key reasons for the partnership. '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,' said Abdulaziz Al Ajlan, Managing Director at tiqmo. '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.' 'This partnership reflects MoneyGram's leadership in enabling digital cross-border payments and advancing financial inclusion across the region,' said Ahmed Aly, Head of Middle East, South Asia & Asia Pacific at MoneyGram. '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.' According to the World Bank, Saudi Arabia was the second-largest source of remittances globally in 2022, with over US$39 billion sent abroad. The new service is expected to serve users remitting funds to high-volume corridors, including India, Pakistan, Bangladesh, the Philippines, Egypt, Indonesia and Nepal. The service is now available to all tiqmo users in Saudi Arabia.
Yahoo
04-06-2025
- Business
- Yahoo
Fonemoney Partners With MoneyGram to Expand Global Payments From South Korea
New partnership Brings Fonemoney Users Instant Access to MoneyGram's 200-Country Network SEOUL, KR / / June 3, 2025 / Fonemoney, a specialized small-amount overseas remittance company approved by the Financial Supervisory Service in South Korea, is proud to announce a strategic partnership with MoneyGram, a leading global payments network for consumers, businesses and communities. Through this partnership, Fonemoney customers will gain access to MoneyGram's vast global network, allowing for seamless payments to over 200 countries and territories with the Fonemoney app. This collaboration marks a significant milestone for Fonemoney as it strengthens its international capabilities and enhances its commitment to providing fast, secure, and convenient remittance services. "This partnership is a major step forward in our mission to connect people and their money across borders," said Boyoung Kim, General Manager at Fonemoney. "By connecting to MoneyGram's vast payments network, we are ensuring that our customers benefit from the highest standards of speed, safety, and accessibility in global remittance." "The digital remittances market in South Korea is growing, projected to reach $5.32 billion in value by 20281," said Ahmed Aly, Head of Middle East South Asia and Asia Pacific region of MoneyGram. "Our partnerships with fintech players like Fonemoney further enhances our regional presense and enables us to better serve migrant workers who rely on fast, convenient transfers to support families in to China, Thailand, Vietnam, Philippines and other communities around the world." About Fonemoney Fonemoney (formerly registered as Staremit Co., Ltd.) is one of the fastest growing fintech based remittance companies licensed by Ministry of Strategy and Finance, Republic of Korea specializing in next-gen global money transfer services. About MoneyGram 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 $150 billion USD annually. Headquartered in Dallas, Texas, with offices in 36 countries, MoneyGram is globally recognized for its high-performance culture and has been honored as a Top Workplaces USA award winner for four consecutive years. 1 [ Contact Information Kim Bo Young General Managerannie@ SOURCE: FoneMoney Co., Ltd. View the original press release on ACCESS Newswire Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
