Carrefour and MoneyGram Join Forces to Broaden Financial Service Offerings to Carrefour Customers

Rhea-AI Summary

On April 14, 2023, MoneyGram International (NASDAQ: MGI) announced an expansion of its services in collaboration with Carrefour Group. This partnership will introduce MoneyGram services to over 500 Carrefour locations across Europe and Latin America in 2024, allowing customers to send money to over 200 countries from Carrefour stores. MoneyGram will assist in technical implementation and customer service for this new operation. Carrefour has successfully offered MoneyGram services in Romania for over a decade, reflecting a growing customer demand for these financial services. This strategic collaboration aims to enhance accessibility to cross-border payments and serve the increasing needs of consumers by integrating financial services at Carrefour's retail locations.

Positive

• Expansion of MoneyGram services to over 500 Carrefour locations in 2024.
• Ability for Carrefour customers to send money globally to over 200 countries.
• Collaboration builds on a successful 10-year partnership in Romania, indicating trust and reliability.

Negative

• None.

DALLAS, April 14, 2023 /PRNewswire/ -- Carrefour Group ("Carrefour") and MoneyGram International, Inc. (NASDAQ: MGI) ("MoneyGram"), a leading global financial technology company that connects the world's communities, today announced they will expand MoneyGram services to over 500 Carrefour locations in multiple markets in 2024.

Carrefour customers across Europe and Latin America will now be able to send money from their local hypermarket or supermarket to loved ones in over 200 countries and territories around the world. MoneyGram will support Carrefour on the operational management of this new service, including technical implementation, compliance and customer service.

"The history of our collaboration with MoneyGram in the Romanian market for over 10 years has enabled us to measure the value proposition of adding money transfer to our traditional banking activities, which has helped us confirm its a growing need for our customers," said Benjamin Dubertret, Group Director of Financial and Merchant Services at Carrefour. "MoneyGram's global expertise in money transfers between individuals will enable us to offer a simple, unified and secure service in eight Carrefour countries. This collaboration is in line with our ambition to constantly meet the needs of our customers on a daily basis with the best services."

"We are excited to partner with Carrefour and expand our leading services across their global network," said Alex Holmes, MoneyGram Chairman and CEO. "As consumer demand continues to vary based on market-specific needs, we understand the importance of providing options. This partnership with one of the largest retailers in the world underscores our ongoing commitment to putting customers first and driving access to convenient and reliable cross-border payments. We look forward to continued growth through this strategic collaboration."

About the Carrefour Group

With a multi-format network of more than 14,000 stores in nearly 40 countries, the Carrefour Group is one of the world leaders in food retail. Carrefour generated sales of 90.8 billion euros in 2022. Its network of integrated stores has more than 335,000 employees who contribute to making Carrefour the world leader in the food transition for all, by offering every day quality food, accessible everywhere and at a reasonable price. Overall, more than 500,000 people work under the Carrefour brand worldwide. To find out more, go to www.carrefour.com, on Twitter (@news_carrefour) and on LinkedIn (Carrefour).

About MoneyGram International, Inc.

MoneyGram International, Inc. is a global financial technology company that enables consumers and businesses to move and manage money in nearly every country around the world. Through its expansive set of fintech offerings, MoneyGram provides millions of consumers annually the ability to seamlessly send money home to family and friends, store money in mobile wallets, and buy, sell and hold cryptocurrencies on its industry-leading app. The Company's innovative cross-border platform enables its customers to send funds directly into bank accounts and mobile wallets or cash-in and cash-out more than 135 currencies and numerous cryptocurrencies through one of the largest cash distribution networks in the world. Modern, mobile and API-driven, MoneyGram's white-labeled remittance service also provides some of the world's top brands and organizations the ability to disburse funds directly to their consumer clients. Based in Dallas and known for its strong corporate culture globally, MoneyGram has been named a recipient of the Top Workplaces USA award for two consecutive years, an honor based entirely on employee feedback.

Carrefour Media Contact  
presse_france@carrefour.com

MoneyGram Media Contact  
Sydney Schoolfield  
media@moneygram.com

 

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SOURCE MoneyGram

FAQ

What is the significance of MoneyGram's partnership with Carrefour?

The partnership allows MoneyGram to expand its services to over 500 Carrefour locations, enhancing access to money transfers for customers across Europe and Latin America.

When will MoneyGram services be available at Carrefour locations?

MoneyGram services are set to be available at Carrefour locations starting in 2024.

How many countries can customers send money to through Carrefour?

Customers will be able to send money to over 200 countries and territories worldwide.

What role will MoneyGram play in this collaboration with Carrefour?

MoneyGram will manage operational aspects, including technical implementation, compliance, and customer service.