MoneyGram and Visa are collaborating to introduce a real-time peer-to-peer (P2P) payment solution to people in Vietnam.
“We’ve already hit the ground running in 2021, and this latest integration with Visa Direct further improves our leading customer experience and will help execute our strategy to scale digital growth in one of the largest remittance markets in the world,” MoneyGram Global Chief Revenue Officer Grant Lines said in a Tuesday (Feb. 2) press release.
He added that MoneyGram is the “preferred partner for cross-border transfers,” and Visa Direct will help “expand our real-time transfer capabilities.”
People will soon be able to transfer money digitally to Vietnam through the MoneyGram mobile app or website from the U.S., the U.K. and 18 European countries through Visa Direct.
“Our digital solution will enable MoneyGram consumers to quickly and conveniently receive money directly into their bank accounts via Visa Direct,” said Madame Dang Tuyet Dung, country manager at Visa Vietnam and Laos.
“Cardholders can use any Visa debit or prepaid card to receive cross-border payments via Visa’s real-time push payment solution. This partnership with MoneyGram will support Vietnam’s economic growth and streamline the remittance transferring process, which is vital to our customers’ digital experience and helps introduce our innovations to consumers,” she said.
Vietnam is among the top 10 remittance recipients in the world.
“In this digital age, we believe it is important to introduce solutions that can improve our cardholders’ lives,” said Nguyen Minh Tam, Deputy General Manager at Sacombank.
Last month, MoneyGram partnered with Visa Direct and Checkout.com to expand its Visa debit card deposit service across Europe. In 2019, MoneyGram was the first company in the industry to enable cross-border transfers from the U.S. using Visa Direct.
MoneyGram’s cross-border P2P and money transfer capabilities give people the ability to send money to more than 200 countries and territories.
We’re always on the lookout for opportunities to partner with innovators and disruptors.
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