Global Money Express, a money transfer and payment fintech in South Korea, has partnered with NASDAQ quoted MoneyGram International, a global leader in cross-border P2P payments and money transfers based in Dallas, US.
GME’s customers can now connect to the MoneyGram platform and distribution network in over 200 countries and territories. It was said that the integration will especially benefit consumers who send money from South Korea to China and South Asia.
“Partnering with leading fintech companies is a critical component of our strategy to accelerate digital growth,” said Kamila Chytil, MoneyGram Chief Operating Officer and leader of the company’s digital business.
“We recently reported 100% year-over-year digital transaction growth May. Our new partnership with GME, one of the fastest-growing fintech companies in a key market, will further support this strong digital growth.”
MoneyGram said the company strengthens its leading position in the South Korea P2P payments and remittance market, which has approximately $13.4 billion in annual remittance outflows, according to the World Bank.
“We are delighted to partner with MoneyGram in a rapidly changing, cross-border money transfer and payment market in Korea,” added John Sung, CEO of Global Money Express. “The partnership with MoneyGram will help us expand our payout coverage globally and also provide more competitive and improved services to our current and potential customers here in South Korea.”
