MoneyGram Launches Partnership with Japanese Fintech Smiles to Enable International Money Transfers

Rhea-AI Summary

MoneyGram (MGI) has formed a strategic partnership with Digital Wallet Corporation to enhance cross-border money transfers in Japan. Utilizing the Smiles mobile app, users can now send money globally via MoneyGram's advanced payment network. The service is operational as of now, aiming to tap into the expanding digital payment market. Both companies expressed optimism about the collaboration, which is part of MoneyGram's strategy of leveraging fintech partnerships to increase transaction volumes and processing revenue.

Positive

• Strategic partnership with Digital Wallet Corporation enhances international money transfer capabilities in Japan.
• Operational Smiles mobile app integrates MoneyGram's payment network, facilitating transactions to over 200 countries.
• MoneyGram's focus on fintech collaborations aims to boost transaction volumes and processing revenue.

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• None.

DALLAS, Jan. 11, 2022 /PRNewswire/ -- MoneyGram International, Inc. (NASDAQ: MGI), a global leader in the evolution of digital P2P payments, today announced a strategic partnership with Digital Wallet Corporation, a global fintech company and the owner of Smiles Mobile Remittance (Smiles), a leading mobile money transfer service and digital wallet in Japan. Consumers in Japan can now use the Smiles mobile app – powered by MoneyGram's global payment rails and near real-time capabilities – to send money to more than 200 countries and territories around the world.

"Partnering with leading fintech companies around the world is a critical component of our strategy, and we are thrilled to open our unique, global platform to one of the world's fastest-growing fintechs," said Alex Holmes, MoneyGram Chairman and CEO. "An increasing number of companies are looking to leverage our core capabilities to quickly add services and scale, and we continue to get excited about increasing payment volumes through our network and creating meaningful processing revenue in the years ahead."

"Digital Wallet Corporation is delighted to partner with MoneyGram in the rapidly-growing, cross-border money transfer and payments market in Japan," said Eiji Miyakawa, Digital Wallet Corporation President & CEO. "We believe the best way to reach and help our customers is through this collaboration with the respected MoneyGram brand and global network. Digital Wallet is looking forward to a successful strategic partnership with MoneyGram."

The service is now live for consumers.

About MoneyGram International, Inc.
MoneyGram is leading the evolution of digital P2P payments. With a purpose-driven strategy to mobilize the movement of money, a strong culture of fintech innovation, and leading customer-centric capabilities, MoneyGram has grown to serve nearly 150 million people across the globe over the last five years.

The Company leverages its modern, mobile, and API-driven platform and collaborates with the world's leading brands to serve consumers through MoneyGram Online (MGO), its direct-to-consumer digital business, its global retail network and its emerging embedded finance business for enterprise customers, MoneyGram as a Service.

For more information, please visit ir.moneygram.com and follow @MoneyGram

Media Contact
Sydney Schoolfield
media@moneygram.com

About Digital Wallet Corporation
Digital Wallet has combined the powers of Artificial Intelligence (AI) and Financial Technology (FinTech) and used their expertise to carefully craft and develop a premium financial service that's accessible to everyone known as Smiles. The service's unique features include an integrated loyalty points program and access to sending money to more than one beneficiary. After only being on the market since 2017, Smiles has been growing rapidly with the combination of outstanding quality in its service as well as an excellent customer service center, showing strong business success. For more information, please visit the following links:

• Digital Wallet Corporation: digitalwallet.co.jp
• Smiles Mobile Remittance: smileswallet.com

Media Contact
Info@digitalwallet.co.jp

 

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SOURCE MoneyGram

FAQ

What is MoneyGram's recent partnership announcement?

MoneyGram announced a partnership with Digital Wallet Corporation to enhance cross-border money transfers in Japan.

How does the Smiles app relate to MoneyGram?

The Smiles app allows users to send money internationally using MoneyGram's payment infrastructure.

When did MoneyGram announce its partnership with Digital Wallet Corporation?

The partnership was announced on January 11, 2022.

What is the significance of this partnership for MoneyGram (MGI)?

The partnership aims to increase transaction volumes and processing revenue for MoneyGram in the growing digital payments market.

Which countries can users send money to through the Smiles app?

Users can send money to over 200 countries and territories worldwide using the Smiles app.