MoneyGram, a financial technology company based in the US that specialises in global payments and financial solutions, has partnered with Mastercard to enhance digital money transfers both domestically and internationally.

By integrating Mastercard Move, a suite of money transfer solutions, MoneyGram is providing its customers with improved access to fast, secure, and near real-time transactions.

Through this partnership, customers using any US-issued Mastercard card can send money across borders to 38 eligible receiving markets, with plans for further expansion in 2025.

Mastercard Move also allows MoneyGram customers to receive funds through nearly 10 billion endpoints worldwide, ensuring greater accessibility and convenience.

This collaboration improves the overall money transfer experience by making transactions faster and more efficient.

Customers can access near real-time funding from any U.S.-issued Mastercard card and send money to bank accounts, mobile wallets, Mastercard cards, and cash pick-up locations.

Transactions are backed by the security and reliability of the MoneyGram and Mastercard networks, ensuring a seamless process.

The digital-first approach offers an efficient and cost-effective solution with low transaction fees, making cross-border payments more affordable.

Additionally, the partnership enhances financial accessibility by streamlining payouts and expanding MoneyGram’s already 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, CEO of 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.”

“Unlocking more efficient and secure ways to send and receive money is critical for fuelling entry into the digital economy,”

said Chiro Aikat, Co-President, US, 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.”

Featured image credit: edited from freepik