back Back

MoneyGram launches P2P payment solution in Vietnam using Visa Direct

By Edil Corneille

February 03, 2021

  • Moneygram
  • Vietnam
Share

MoneyGram, Visa, VietnamMoneyGram International, a cross-border P2P payments and money transfers company, and Visa, a digital payments technology company, launched a real-time peer-to-peer (P2P) payment solution to Vietnam. This integration in the partnership between MoneyGram, Visa, Sacombank and other banks across the country enables customers to transfer money from the United States, United Kingdom and 18 European countries to Vietnam quickly and securely through Visa Direct. Consumers can transfer money digitally through the MoneyGram mobile app or website to arrive almost instantly to any Visa cardholder located in Vietnam.

“We’ve already hit the ground running in 2021, and this latest integration with Visa Direct further improves our leading customer experience and will help execute our strategy to scale digital growth in one of the largest remittance markets in the world,” said Grant Lines, Global Chief Revenue Officer at MoneyGram. “We’ve built a modern, mobile, and API-driven company that has enabled MoneyGram to become the preferred partner for cross-border transfers, and we’re excited to continue to expand our real-time transfer capabilities with Visa Direct.”

“Our digital solution will enable MoneyGram consumers to quickly and conveniently receive money directly into their bank accounts via Visa Direct,” said Madame Dang Tuyet Dung, Country Manager at Visa Vietnam and Laos. “Cardholders can use any Visa debit or prepaid card to receive cross-border payments via Visa’s real-time push payment solution. This partnership with MoneyGram will support Vietnam’s economic growth and streamline the remittance transferring process, which is vital to our customers’ digital experience and helps introduce our innovations to consumers.”

Vietnam is estimated to be one of the top-10 remittance recipients in the world. The millions of Vietnamese living and working abroad will now be able to use MoneyGram to send money seamlessly and conveniently to family and friends back at home.

“In this digital age, we believe it is important to introduce solutions that can improve our cardholders’ lives,” said Nguyen Minh Tam, Deputy General Manager at Sacombank. “We’re excited to once again be at the forefront of innovation with Visa Direct making cross-border remittances hassle-free and efficient to any Sacombank account holder in Vietnam using their Visa card on Sacombank Pay application.”

With Visa Direct, customers can now transfer up to 2,500 USD per transaction and 10,000 USD per day. Until June 30, 2021, consumers can send money to a Visa debit card in Vietnam without incurring a transfer fee.

Previous Article

February 03, 2021

CBB announces launch of eKYC as part of digital transformation strategy

Read More
Next Article

February 03, 2021

OKEx to integrate Bitcoin Lightning Network; enabling instant, global, low fee transactions

Read More







Advertise with us



IBSi Daily News Analysis

FinTech digital payment in India

May 16, 2022

Moneygram

Digital payments caused a paradign shift in rural India

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

3 FinTechs of the real estate sector in the UK and Europe

Read More

Today

BigPay goes live on Amlock’s Financial Crime Detection and Management Solution

Read More

Today

Huntington National Bank expands digital payments with acquisition of Torana

Read More

Related Reports

Sales League Table Report 2021

£ 1,500.00 / year

Know More
Emerging Technologies in Capital Markets

£ 500.00

Know More
Global Digital Banking Vendor and Landscape Report Q1 2022

£ 1,500.00 / year

Know More
Wealth Management & Private Banking Systems Report Q1 2022

£ 1,500.00 / year

Know More
Treasury and Capital Markets Systems Report 2021

£ 1,500.00 / year

Know More