"We're thrilled to partner with the barraq team as they join a growing list of global fintech partners choosing MoneyGram for our vast network, leading technology and mobile APIs," said Alex Holmes, MoneyGram Chief Executive Officer. "barraq is anticipated to be the Middle East's fastest-growing financial app, so we're excited to reach new customers and expand our leadership position in one of the world's largest outbound remittance regions."
MoneyGram has established itself as the preferred remittance partner in the Middle East digital ecosystem, evidenced by the Company's recent successes with digital partners and significant growth in the region. As MoneyGram continues to deepen relationships with existing partners in the Middle East, today's announcement highlights opportunities for even further expansion.
"We are pleased to launch this strategic partnership with MoneyGram, a trusted money transfer provider with an expansive global network," shared Ahmed Alenazi, barraq Chief Executive Officer. "It's been exciting to see demand build for barraq, and we look forward to our app ranking very highly among digital wallet options for its features, secure payment methods and device compatibility. We look forward to partnering with MoneyGram on our journey."
About MoneyGram International, Inc.
MoneyGram International, Inc. is a global financial technology company enabling consumers and businesses to move and manage money in nearly every country around the world. Through its innovative cross-border platform, MoneyGram provides millions of consumers globally the ability to send money home for family and friends to pick up in cash or receive directly to a bank account, mobile wallet or card. The Company is a pioneer in the use of blockchain technology at scale and also enables consumers to buy, sell and hold digital currencies on its industry-leading app. With one of the world's most extensive and dynamic cash distribution networks, MoneyGram has become the single largest on and off-ramp provider for digital currencies in the world. The MoneyGram team spans the globe with over 2,000 employees across 36 countries, representing more than 75 nationalities. Headquartered in Dallas, Texas, and known for its strong corporate culture globally, MoneyGram has been named a recipient of the Top Workplaces USA award for two consecutive years. By the numbers, MoneyGram serves more than 50 million people in over 200 countries and territories each year, processing more than $200 billion USD annually. Relentlessly digital-first and customer-centric, the Company's digital transactions now account for over 50% of its money transfer business.
Media Contact
Sydney Schoolfield
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About barraq
barraq is Saudi Arabia's latest innovative financial technology app. Developed by young Saudi talents, barraq obtained its license from the Saudi Central Bank in January 2024. barraq aims to provide financial products and services that will transform daily life and fulfill users' exact needs while combining both convenience and joy at every interaction.
Media Contact
Abdulaziz Alrediny
[email protected]
SOURCE MoneyGram
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