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Paytm and MoneyGram partner to offer real-time money transfer to Paytm Wallet

With this partnership, MoneyGram users abroad can now conveniently transfer money to full KYC Paytm wallet users in India.

GadgetTimes
Paytm Payments Bank and MoneyGram International has announced a partnership to enable MoneyGram customers globally to send money in real-time to a Paytm Wallet user in India. With this partnership, MoneyGram users abroad can now conveniently transfer money to full KYC Paytm wallet users in India.
“We’re thrilled to partner with Paytm Payments Bank to expand our mobile wallet capabilities into one of the largest receive markets in the world,” said Alex Holmes, MoneyGram Chairman and CEO. “The digitization of our receive network is a core component of our growth strategy which has led to exceptional results, such as an all-time high in our total transactions received digitally in the third quarter of this year. As consumer preference in India and beyond shifts toward receiving transfers digitally, MoneyGram is well-positioned to continue to meet demand.”
This is MoneyGram’s first mobile wallet partnership in India. The number of transactions sent directly to bank accounts is up about six times from just under 10 percent two years ago. With this MoneyGram expects higher growth rates as customers in India.

“We always strive to empower Indians with seamless, digital banking services, and offering direct transfer of international remittances into the Paytm Wallet, is another step in the same direction. Paytm Wallet is used by millions of Indians and we hope that this partnership will offer unmatched convenience & flexibility to the Indian diaspora across the world to send money home in real-time," said Satish Kumar Gupta, MD & CEO – Paytm Payments Bank Ltd.
Web Title paytm and moneygram partner to offer real-time money transfer to paytm wallet
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