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MoneyGram, urpay Team on Saudi Arabia Payments

MoneyGram, urpay Team on Saudi Arabia Payments

MoneyGram International announced Thursday (Dec. 2) is working with the digital wallet provider urpay to power cross-border payments from Saudi Arabia.
The partnership, expected to go live for customers early next year, lets urpay connect to Moneygram’s “API-driven infrastructure and global network to provide its millions of users the ability to send money around the world,” the company said in the news release.

“As the digitization of payments continues to accelerate around the world, innovative partnerships with companies like urpay are instrumental to our growth strategy and enable us to efficiently scale the number of payments we process through our platform,” said Alex Holmes, MoneyGram chairman and CEO.

Adel Al Rajhi, CEO of urpay parent company neoleap, said the partnership addresses “the market’s need for reliable financial solutions with worldwide standards,” while giving urpay customers the ability to transfer funds with ease and safety anywhere in the world.

MoneyGram says the partnership extends the work its done in the Middle East and accelerates digital growth in Saudi Arabia, “one of the world’s key outbound remittance countries.

The partnership comes just weeks after MoneyGram announced it an integration with the Bangladesh mobile financial service bKash to allow more than 55 million bKash users to get funds in real-time from around the globe.

This integration was part of MoneyGram’s ongoing collaboration with Thunes, a B2B company out of Singapore that supports more than 60 currencies and allows for payments to 115 countries and in 300 payment methods.

The company also recently formed a partnership with the nonprofit Stellar Development Foundation, to consumers make cash payouts using U.S. Dollar Coin (USDC). The partnership lets customers change USDC to cash or vice versa, which will enhance utility and liquidity of digital assets, and also allow more people to access the digital economy.
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