- The brand’s innovative approach to money transfer transactions has been recognised by an award-giving body in Ghana
- MoneyGram has made sending remittances easier for many of the country’s overseas workers
- Direct transfers were introduced this year
International money transfer giant MoneyGram recently won an award in Ghana for its innovation in the currency transfer industry. The Mobex Africa Innovation in Money Transfer Award acknowledges the brand’s efforts and success in sending funds directly into the bank accounts or mobile wallets of remittance recipients, according to reports. MoneyGram received the award with high hopes of expanding its reach in Africa.
The brand announced its partnership with mobile payments specialist Zeepay in September. The service has a reach of 11 million, based on a statement from Zeepay.
The two services were introduced this year, according to Ghana’s media. MoneyGram competed with other major money transfer services in country such as Alexpay, Ecobank, Barclays, Expresspay and GHIPSS.
The brand’s regional head of Anglophone West Africa Patrick Appiah says: “Remittances are key to the Ghanaian economy, and MoneyGram is a leader in this market. Over the past year, we have invested heavily in this market and now are proud to offer multi-channel convenience to our receivers in Ghana. From Paga to Accra, or Elubo to Aflao, customers can receive money from loved ones abroad either in any of our 2,000 partner locations with banks in Ghana, or direct into their bank account or mobile wallet.”
It is noted on MoneyGram’s website that transfers going straight to mobile wallets and bank accounts in Ghana can only be done from the United States.
Ghana received an estimated $2.2 billion in remittances in 2017 alone, comprising around 4% of the country’s gross domestic product (GDP).
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