04/03/2021

MoneyGram Launches Industry’s Initially Real-Time P2P Payment Answer to Vietnam applying Visa Direct

DALLAS, Feb. 2, 2021 /PRNewswire/ — MoneyGram Intercontinental, Inc., a worldwide chief in cross-border P2P payments and money transfers, and Visa, the world’s chief in digital payments, these days released a authentic-time peer-to-peer (P2P) payment alternative to Vietnam. This newest integration in the partnership involving MoneyGram, Visa, Sacombank and other foremost banking institutions throughout the region allows buyers to transfer funds from the United States, United Kingdom and 18 European countries1 to Vietnam swiftly and securely as a result of Visa Immediate.2 Shoppers can transfer money digitally by the MoneyGram cellular app or web site to get there almost promptly to any Visa cardholder located in Vietnam.

“We’ve presently hit the floor jogging in 2021, and this most current integration with Visa Immediate even further increases our leading buyer expertise and will assist execute our tactic to scale digital progress in 1 of the largest remittance markets in the planet,” reported Grant Strains, Worldwide Main Income Officer at MoneyGram. “We’ve developed a contemporary, cellular, and API-pushed company that has enabled MoneyGram to grow to be the favored spouse for cross-border transfers, and we’re enthusiastic to continue on to increase our real-time transfer abilities with Visa Direct.”

“Our digital option will permit MoneyGram buyers to quickly and conveniently acquire cash immediately into their lender accounts via Visa Immediate,” claimed Madame Dang Tuyet Dung, State Supervisor at Visa Vietnam and Laos. “Cardholders can use any Visa debit or pay as you go card to receive cross-border payments by way of Visa’s serious-time thrust payment remedy. This partnership with MoneyGram will guidance Vietnam’s financial growth and streamline the remittance transferring process, which is important to our customers’ electronic expertise and will help introduce our improvements to people.”

Vietnam is estimated to be a person of the best-10 remittance recipients in the earth. The tens of millions of Vietnamese dwelling and performing overseas will now be in a position to use MoneyGram to ship dollars seamlessly and conveniently to household and pals back at property.

“In this electronic age, we believe that it is essential to introduce answers that can strengthen our cardholders’ lives,” said Nguyen Minh Tam, Deputy Normal Manager at Sacombank. “We’re excited to the moment once more be at the forefront of innovation with Visa Immediate building cross-border remittances trouble-cost-free and efficient to any Sacombank account holder in Vietnam utilizing their Visa card on Sacombank Fork out software.”

With Visa Immediate, clients can now transfer up to 2,500 USD for each transaction and 10,000 USD per day. From now until finally June 30, 2021, buyers can ship income to a Visa debit card in Vietnam with out incurring a transfer rate.

About MoneyGram Worldwide, Inc.
MoneyGram is a international chief in cross-border P2P payments and money transfers. Its client-centric capabilities allow spouse and children and good friends to rapidly and affordably mail dollars in more than 200 nations and territories, with 89 now digitally enabled.

MoneyGram leverages its modern, cell, and API-pushed platform and collaborates with the world’s leading models to provide tens of millions of folks each individual calendar year by way of both of those its walk-in company and its direct-to-purchaser digital small business.

With a potent culture of innovation and a relentless target on utilizing technological know-how to supply the world’s best buyer encounter, MoneyGram is major the evolution of electronic P2P payments.

For much more information, remember to go to ir.moneygram.com and abide by @MoneyGram.

About Visa Inc.
Visa Inc. is the world’s leader in digital payments. Our mission is to hook up the globe as a result of the most innovative, trustworthy and protected payment community – enabling people, enterprises and economies to thrive. Our advanced international processing network, VisaNet, presents protected and reliable payments close to the earth, and is able of dealing with far more than 65,000 transaction messages a second. The company’s relentless concentration on innovation is a catalyst for the swift expansion of electronic commerce on any gadget for every person, all over the place. As the earth moves from analog to electronic, Visa is implementing our manufacturer, merchandise, people, network and scale to reshape the long term of commerce. For much more details, check out About Visa, visa.com/blog site and @VisaNews.

MoneyGram Media Contact
Stephen Reiff
media@moneygram.com

Visa Media Call
Nguyen Thi Phuong Trang
trang.nguyen@visa.com

1 France, Germany, Spain, Hungary, Romania, Bulgaria, Czech, Poland, Greece, Ireland, Belgium, Austria, Finland, Denmark, Estonia, Italy, Netherlands and Portugal.
2 Genuine fund availability depends on acquiring money establishment and location. Visa requires fast-money enabled issuers to make money offered to their receiver cardholders within just a maximum of 30 minutes of approving the transaction.

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Source MoneyGram