MoneyGram partners with Sigue to expand its payments-as-a-service offering

By Pavithra R

MoneyGram International, a global leader in cross-border P2P payments and money transfers, has announced a new partnership with Sigue Corporation, a leading transnational B2B and P2P payments company in the United States.

The collaboration enables Sigue’s customer base in the U.S. to access MoneyGram’s national and international receiving network, increasing Sigue’s current global presence.

“Over the past few years, we have built a modern, mobile, API-based organization that enables companies to seamlessly connect to our global network to provide expanded services to their customers, and we are delighted to announce our latest partner integration with Segu. Opening our global platform to companies like Sigue allows us to increase payment volumes through our network and process more transactions. MoneyGram has built an extremely valuable, technology-based and scalable global payments infrastructure that can absorb significant volume at a cost. Very low marginal cost. As other companies connect to our platform, we will have the opportunity to generate significant processing revenue over the next several years, and I am excited about the momentum in the market leading to a strong portfolio of alliances,” said Alex Holmes, President and CEO of MoneyGram.

The alliance is the latest in the list of integrations into the new MoneyGram line of business as a service. Collaborations like these are expected to expand processing volume by allowing other FIs to access the Company’s global payment capabilities through its powerful API-driven infrastructure and top-notch technology.

“We are very excited about our partnership with MoneyGram as it allows us to scale even higher, faster and keep our resources free to focus on creating the best remittance experience in the business. This strengthens our market presence as the company. The world’s leading remittance provider, and confirms our credentials as a leader in technological innovation for the global money services industry. This reaffirms our commitment to serving millions of families through our safe, reliable and innovative services, with the dignity and respect that our clients demand and deserve,” said Guillermo de la Viña, CEO and founder of Sigue.

Established in 1940, MoneyGram International is an American money transfer company providing innovative money transfer and payment services. Its consumer-centric capabilities enable consumers to transact money in more than 200 countries and territories, with over 70 countries now digitally enabled. Recently, the firm announced a new business line, MoneyGram as a Service.