MoneyGram Partners With bKash To Expand Mobile Wallet Network in Asia

MoneyGram International, the worldwide forerunner in digital P2P payments has recently reported the extension of its versatile wallet network through the integration with bKash, the largest MFS provider of Bangladesh. This integration comes as the most recent step as a component of MoneyGram’s continuous partnership with Thunes, a B2B company that powers payments for the world’s fastest-growing businesses.

With this integration,  more than 55 million bKash wallet clients in Bangladesh can now receive money immediately from around the world.

“The digitization of our receive network is a core component of our growth strategy, and this latest integration can help improve the financial lives of millions of bKash wallet users in a large and growing market,” reportedly said Alex Holmes, MoneyGram Chairman, and CEO. “As we recently announced, total transactions received digitally through the MoneyGram platform reached a new all-time high in the third quarter of this year, with 63% year-over-year growth, and this partnership will further support this strong growth. As consumer preferences shift toward receiving transfers digitally, MoneyGram is committed to offering innovative financial solutions and is well-positioned to meet these demands.”

Across numerous spaces of the world, particularly in pieces of Asia, remittances are still considered to be a major part of consumer lives, while interest in tech-based digital choices and versatile wallets keeps on flooding. As indicated by the World Bank, an expected 22 Billion USD streamed into Bangladesh as remittances in 2020, representing practically 7% of the country’s GDP in the year. This most recent incorporation with bKash will build admittance to coordinate remittance services and assist with speeding up monetary consideration in Bangladesh.

“We believe that access to fast and affordable global payments is one of the basic human rights and that technology can help us achieve it,” reportedly said Peter De Caluwe, CEO of Thunes. “We are glad to partner with MoneyGram and bKash to get us one step closer to that vision and enable seamless digital payments to the vibrant Bangladeshi community”

“We are working with more than 50 money transfer services like MoneyGram to ensure prompt and secure transactions. The remittance earners can now transfer money through our banking channel from almost 90 countries of the world and bKash will distribute the money to the end-user,” reportedly said Shamsuddin Haider Dalim, Head of corporate communications at bKash.

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