- MoneyGram, which is a major provider of cross-border payments services, has confirmed that it will be working with the Japanese company Digital Wallet Corporation as part of a push towards better cross-border payments.
- The new service will mean that customers in Japan who use the Smiles mobile app, which is owned by Digital Wallet Corporation, will be able to benefit from MoneyGram’s payment rails.
- "Partnering with leading fintech companies around the world is a critical component of our strategy, and we are thrilled to open our unique, global platform to one of the world’s fastest-growing fintechs,” said a senior figure at MoneyGram.
MoneyGram, a leading provider of cross-border payments services, has confirmed that it will work with a fintech firm that owns a Japanese remittance brand.
MoneyGram said that it had struck a deal with Digital Wallet Corporation, which is a financial technology company operating a brand called Smiles Mobile Remittance.
Smiles is a major cash transfer service based in Japan.
The new development means that customers based in Japan are now able to use the Smiles mobile app to make cash transfers.
The app is based around the payment rails system used by MoneyGram to send cash abroad in real time.
MoneyGram’s systems allow it to send cash to over 200 nations and territories across the globe.
The new service has already begun operating.
In a statement, a senior figure at MoneyGram said that the company was pleased to be partnering with such an organisation as part of its strategy.
Alex Holmes, who is the chairman and chief executive officer of the organisation, emphasised that the company has a “unique, global platform”.
“Partnering with leading fintech companies around the world is a critical component of our strategy, and we are thrilled to open our unique, global platform to one of the world’s fastest-growing fintechs,” he explained.
He went on to say many potential clients were seeking its services in this sector – and that it was looking ahead to the future.
“An increasing number of companies are looking to leverage our core capabilities to quickly add services and scale, and we continue to get excited about increasing payment volumes through our network and creating meaningful processing revenue in the years ahead,” he said.
For Digital Wallet Corporation, meanwhile, a spokesperson there said that the pairing with MoneyGram was widely welcomed.
Eiji Miyakawa, who is the firm’s president and chief executive officer, said that MoneyGram offered all sorts of benefits.
“Digital Wallet Corporation is delighted to partner with MoneyGram in the rapidly-growing, cross-border money transfer and payments market in Japan," he said.
“We believe the best way to reach and help our customers is through this collaboration with the respected MoneyGram brand and global network. Digital Wallet is looking forward to a successful strategic partnership with MoneyGram.”
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