MoneyGram and Mastercard enter partnership

To enhance digital money movement

MoneyGram, a leading financial technology company, has partnered strategically with Mastercard to enhance global financial accessibility by advancing digital money movement.

The new partnership promises to deliver faster, more secure, and near-real-time payment solutions to customers worldwide. Through the new alliance, MoneyGram will integrate Mastercard Move, a portfolio of money transfer solutions, to offer customers a more efficient and seamless money transfer experience.

MoneyGram’s integration of Mastercard Move will enable customers to use any US-issued Mastercard card to send funds across borders to 38 eligible receiving markets. Mastercard Move will also allow MoneyGram customers to receive funds through nearly 10 billion global endpoints, a vast network including bank accounts, mobile wallets, Mastercard cards, and cash pick-up locations. This development is part of a broader initiative to expand cross-border payment capabilities throughout 2025.

The collaboration comes when digital payment solutions are increasingly sought after for their convenience and speed. This partnership’s benefits are multifaceted, providing customers with a streamlined and cost-effective way to manage international money transfers.

By incorporating Mastercard Move’s features, MoneyGram enhances cross-border transactions’ speed, security, and reliability, which are critical in a fast-paced global economy.

One key advantage of this partnership is the enhanced speed and convenience it brings to customers. Funds sent via US-issued Mastercard cards will be available for near real-time transfer to recipients in the eligible markets. Customers can send money directly to bank accounts, mobile wallets, Mastercard cards, and cash pick-up points, all with minimal effort and time.

This new integration helps eliminate many delays and complexities often associated with traditional money transfers, making it easier for customers to access and send funds as needed.

Moreover, the collaboration offers enhanced security and reliability, ensuring that every transaction backs the trust and security of the MoneyGram and Mastercard networks. Customers can confidently use these platforms knowing world-class security measures protect their financial information.

The partnership further emphasises the importance of cost-effective money movement. It provides a digital-first transfer process with competitive transaction fees, making it an attractive option for users looking to save on transfer costs.

“We’re excited to work with Mastercard to empower individuals and communities worldwide, expanding access and choice regarding their finances,” said Anthony Soohoo, Chief Executive Officer of MoneyGram.

“Our growing global network, present in nearly every country, is one of our most valuable assets. Through strategic alliances like this, we continue to expand and improve our services, advancing MoneyGram’s mission to make cross-border payments seamless, affordable, and secure for everyone.”

MoneyGram’s extensive network, which spans over 200 countries and territories with approximately 450,000 retail locations and five billion digital endpoints, is further enhanced by Mastercard Move’s ability to reach over 95% of the world’s banked population.

Mastercard’s reach extends to over 180 countries and supports over 150 currencies, making it a powerful tool for global financial inclusion. Integrating Mastercard Move into MoneyGram’s operations will further strengthen the company’s position as a leader in cross-border payments.

Chiro Aikat, Co-President of the United States at Mastercard, highlighted the importance of the partnership in providing more efficient ways to send and receive money. “Unlocking more efficient and secure ways to send and receive money is critical for fuelling entry into the digital economy,” Aikat said.

“By integrating Mastercard Move into MoneyGram’s vast network, we’re building speed and adding peace of mind into every transaction so that critical funds can get into the hands when and where they’re needed.”

The partnership promises to deliver a faster, safer, and more accessible financial experience to customers worldwide by combining MoneyGram’s vast network with Mastercard’s robust payment infrastructure.

Image: MoneyGram’s integration of Mastercard Move will enable customers to use any US-issued Mastercard card to send funds across borders to 38 eligible receiving markets. Credit: Lukas