MoneyGram and tiqmo partner to boost cross-border remittances from Saudi Arabia

By Puja Sharma

MoneyGram, a global payments network for consumers, businesses and communities, has partnered with tiqmo, a Financial App based in Saudi Arabia. Through this partnership, tiqmo users across Saudi Arabia can send international money transfers to over 200 countries and territories via the global MoneyGram network.

With this integration, tiqmo customers will gain access to more than five billion digital endpoints and over 480,000 MoneyGram locations worldwide, supporting send and receive options in over 120 currencies. Additionally, tiqmo provides a range of international financial services including bank account transfers, digital wallet transfers, cash pick-up, bill payments and mobile top-ups.

tiqmo is one of the fastest-growing apps in Saudi Arabia, licensed by the Saudi Central Bank. Since its launch in 2024, tiqmo has rapidly established itself as a leading digital wallet in Saudi Arabia, and across the Middle East and North Africa (MENA) region. Trusted by millions of users, tiqmo selected MoneyGram as its cross-border payments partner due to the breadth of its extensive global reach, trusted infrastructure and strong footprint in Saudi Arabia – one of the world’s largest remittance markets.

“We believe that our partnership with MoneyGram will strengthen tiqmo’s portfolio of international financial services and connect our customers with a payment brand known around the world,” said Abdulaziz Al Ajlan, Managing Director at tiqmo. “In line with Vision 2030 and the Kingdom’s digital transformation objectives and in pursuit of our goal to redefine digital financial services, we are delighted to welcome MoneyGram into our world-class digital payments ecosystem for the MENA financial services and marketplace.”

“This partnership reflects MoneyGram’s leadership in enabling digital cross-border payments and advancing financial inclusion across the region,” said Ahmed Aly, Head of Middle East, South Asia & Asia Pacific at MoneyGram. “By expanding our digital network through this collaboration with tiqmo- one of the Kingdom’s most innovative and fast-growing wallets- we are reinforcing our role as a key enabler of remittance innovation and supporting Saudi Arabia’s Vision 2030 towards a more inclusive and digital empowered financial ecosystem.”

According to the World Bank, Saudi Arabia was the second-largest sender of remittances in 2022, with over $39 billion flowing abroad. This new service is expected to benefit customers sending money to top recipient countries, such as India, Pakistan, Bangladesh, the Philippines, Egypt, Indonesia and Nepal.