MoneyGram, a global leader in the advancement of digital Peer to Peer (P2P) payments, on Monday, announced its partnership with Beyon money.
MoneyGram, a global leader in the advancement of digital Peer to Peer (P2P) payments, on Monday, announced its partnership with Beyon money, the first financial super app in Bahrain, owned by the telecommunications giant Batelco. The partnership will enable the firm’s customers to use the Beyon Money app to exchange money in over 200 countries and territories across the globe.
The users will be able to send the money in real time, enhancing their experience. Beyon Money app presently aids consumers in connecting with local bank accounts that will provide the customers with financial insights to look for spending habits and examine transactions along with an opportunity to review all the transactions in one place.
The app also has features where the users can spend with their Platinum or Classic Prepaid Card and send money to other countries throughout the world. The new partnership will bring forward and enhance Beyon Money’s existing features by boosting the app’s remittance capabilities. Beyon Money Chief Executive Officer, Roberto Mancone states that the partnership with MoneyGram will enhance the improvement of ‘state-of-the-art digital services’ that is offered to the firm’s Bahrain clientele and provides a strong stand in the expansion of the company’s offer in the Gulf Cooperation Council (GCC), North Africa and the Middle East.
In the statement released by the company he also added that the digital remittance feature of the company offered in the app is very much advanced and lets the customers send money directly from their bank accounts or Beyond Money wallet. “At Beyon Money, we foster speed of execution, ease of access, and low costs for our clients”, says Roberto Mancone. MoneyGram’s new partnership with Beyon Money builds the firm’s success with digital partners across the middle east which is one of the fastest and largest growing outbound remittance regions.
Corresponding to the data of the World Bank, the outbound remittances from Bahrain have been increasing progressively over the past 20 years, states the official press release of the firm. The Chairman and Chief executive Officer of MoneyGram, Alex Holmes states that the announcement of Beyon shows the most recent collaboration with a popular and leading fintech company pursuing the firm’s global money transfer network. “Through strategic partnerships like these, organizations can leverage our core capabilities to quickly add services and scale, while we’re able to increase payment volumes and set ourselves up to create meaningful processing revenue in the years ahead,” says Alex Holmes. The new partnership service is expected to begin its functioning this year.
About Beyon Money
Beyon Money is a leading mobile wallet operating firm in the Kingdom of Bahrain and is Owned by Bahrain Telecommunications Company (Batelco). Beyon Money can access financial insights to monitor transactions, connect bank accounts, and spending habits, pay bills, use the prepaid card all over the World, and send funds to a foreign country instantly all in one place, making Beyon Money the one-stop destination for managing all the monetary transactions.
About MoneyGram
MoneyGram International, Inc. is a global leader in the evolution of digital Peer to Peer (P2P) payments and delivers groundbreaking economic solutions to connect the world’s communities. The firm controls its modern, mobile, and API-driven platform and works in partnership with the world’s top brands to provide consumers through its ‘direct-to-consumer’ digital channel, global retail network, and embedded finance business for customers. With a purpose-driven strategy to assemble the movement of money, leading customer-centric capabilities, and a culture of fintech innovation, MoneyGram has grown to serve over 100 million people in the last five years and is also a leader in revolutionary blockchain-enabled settlement and cross-border payment innovation