MoneyGram, Wing launch mobile wallet service in Cambodia

Alex Holmes, chairman and chief executive officer, MoneyGram

Money transfer company MoneyGram International has partnered with Wing (Cambodia) Limited Specialised Bank, to offer a service that will allow customers to receive funds directly into their mobile wallets.

“With 80 per cent of our online transactions being made on a mobile device, we are looking to provide even more options for our customers using our digital platforms,” said Alex Holmes, MoneyGram president and CEO.

“Wing is at the forefront of mobile money and electronic payments, and this mobile wallet tool will serve as a valuable asset for the under-banked in Cambodia, allowing consumers to conveniently and reliably send money across digital boundaries from anywhere.”

Under the partnership, MoneyGram customers will be able to remit and receive money via Wing Money mobile app. Customers will also have the option to cash out using any of 7,000 WING cash Xpress outlets in Cambodia, MoneyGram said in a statement.

“It’s our commitment to provide every Cambodian with convenient access to mobile financial services relevant to, and for the improvement of, their daily lives,” said Manu Rajan, Chief Executive Officer of Wing.

“Our partnership with MoneyGram has allowed us to increase our global presence and keep friends and family from around the world connected..,” Rajan added.

The company added that funds sent back into the country from Cambodian migrant workers totalled $1.4 billion in 2018, according to data from the National Bank of Cambodia. It is expected that this number will go up as more money is being sent home from Cambodians working abroad, as it provides an important source of income for families looking to pay their daily expenses, make investments and repay loans.

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