MoneyGram International, Inc. (NASDAQ: MGI), a world leader in cross-border P2P payments and money transfers, recently announced its deal with Ooredoo Oman and the National Bank of Oman to introduce its pioneering international money transfer functionality on Pay+, a mobile wallet operated by Ooredoo Oman (NBO). Pay+ is the first product that allows Omanis to allow deposits, withdrawals, payment services, and domestic and international transfers of money. Customers will be able to transfer money in near real-time using the digital wallet, which will have access to the MoneyGram global distribution network, which covers over 200 countries and regions.

Alex Holmes, Chief Executive Officer, and Chairman at MoneyGram stated, that as customers’ demand for real-time payments and mobile wallets continues to grow, this partnership with one of our biggest and strongest digital partners will mark a step ahead in their mission to result in the development of digital P2P payments. This implementation through Pay+ will focus on providing scale to its established digital offerings and immediate access to their cross-border payments and money transfer services, as their digital clients progressively look to use our advanced, mobile, and API-driven infrastructure.

MoneyGram intends to increase its customer-centric functionality to Oman, one of the biggest markets for outbound international remittances, through this strategic partnership expansion, building on the strong momentum the company has already established in the Middle East market and accelerate digital growth.

Ian Dench, Chief Executive Officer at Ooredoo, stated Pay+ was designed with customers in mind. Along with the partners, MoneyGram and NBO, the advanced mobile wallet will keep setting standards in the Sultanate’s emerging technological payments ecosystem.

Grant Lines, Global Chief Revenue Officer at MoneyGram, stated that consumers worldwide are now seeing the importance of digital transformation as they successfully execute their strategy to accelerate digital growth and expand access to mobile wallet capabilities. They’re doubling down on their efforts in crucial send corridors like Oman with this recent release, offering new and innovative technologies as well as more digital payment options to customers.

Consumers should be able to use the partnership within the next month.

About MoneyGram International, Inc.

MoneyGram is the world’s largest provider of cross-border peer-to-peer payments and money transfers. Its consumer-centric capacities facilitate family and friends to transfer money to each other quickly and efficiently in over 200 countries worldwide, with 90 of them now digitally enabled. MoneyGram serves millions of citizens every year through its walk-in business and direct-to-consumer digital business, leveraging its modern, mobile, and API-driven platform and collaborating with the world’s leading brands. MoneyGram contributes to transforming digital payments with a strong culture of innovation and a relentless focus on utilizing technology to deliver the best customer experience in the world.

For more information, please visit, http://global.moneygram.com/

About Ooredoo Oman

In December 2004, the Sultanate of Oman established and listed the Omani Qatari Telecommunications Company SAOG (“Ooredoo”). Nawras was the name given to the service when it was initially launched in March 2005. Ooredoo, as the data experience leader in Oman, offers cutting-edge digital products and services to individuals and businesses so that they can enjoy the internet. As of December 31, 2019, Ooredoo had revenue of OMR 285.5 million and is traded on the Muscat Stock Market (MSM) under the ticker “ORDS.”

About National Bank of Oman

NBO, the Sultanate of Oman’s first regional financial institution, was established in 1973 and is now one of its leading banks. The Bank has 60 branches in Oman and more than 180 ATMs, FFMs, CCDMs, and two units in the United Arab Emirates. Through its organizational citizenship programs, the Bank is dedicated to community improvement. It is a strong supporter of various worthwhile causes in Oman, focusing on health and health care, social, education, environment, youngsters, women, culture, and the arts.

For more information, please visit, https://www.nbo.om/en/Pages/Personal-Banking/Home.aspx

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