MoneyGram to work alongside Korean fintech firm

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Daniel Webber
Daniel Webber
Founder & CEO
Daniel is Founder and CEO of FXcompared and has 18 years of experience in the international finance world focusing on cross-border payments, technology and the property sectors. Daniel is widely… Read more
  • A new partnership will see MoneyGram working alongside E9Pay, a firm based in South Korea
  • E9Pay’s customers will now be able to access the extensive MoneyGram network, which stretches across hundreds of countries around the world
  • “As we continue to closely manage the ongoing COVID-19 situation, we’re also continuing to push forward on our strategy,” said the firm’s CEO

International money transfer firm MoneyGram has announced a new partnership with a cross border payments firm based in South Korea.

It will work alongside E9Pay, which is one of the biggest fintech firms in the country. Customers of E9Pay will now be able to use MoneyGram and in particular, its distribution network, which stretches to more than 200 countries and territories across the world.

According to Alex Holmes, who serves as MoneyGram’s Chairman and CEO, the firm’s new partner has a “strong culture of innovation”.

“As we continue to closely manage the ongoing COVID-19 situation, we’re also continuing to push forward on our strategy,” he said.

He continued: “E9Pay has a strong culture of innovation with a loyal customer base of avid users, and this partnership enables E9Pay customers access to our global platform, including our account deposit capabilities.”

Kamila Chytil, who serves as MoneyGram’s Chief Operating Officer and leads on the firm’s digital work, further contextualised the new arrangement concerning the pandemic, saying:

“We’re excited about how E9Pay is leveraging the strong consumer demand for our account deposit services, which is especially important given the ongoing global pandemic so that consumers can receive money from the comfort and safety of their own homes.

“E9Pay utilised our API-driven infrastructure to enable a quick and seamless integration,” she added.

And on E9Pay Co Ltd.’s part, CEO Jeon Hyuk Goo said that “mutually beneficial business” was now on the cards.

“We are very excited to partner with MoneyGram in a rapidly-changing, cross-border money transfer and payment market in South Korea,” he said.

“We believe the best way to reach and help our customers is through collaboration with the prestigious MoneyGram brand.

“E9Pay firmly expects to continue to develop mutually beneficial business through strategic partnerships with MoneyGram,” he added.

The world is changing at every turn due to the coronavirus pandemic, but the cross border payments sector is continuing to function – at least on some level.

Partnership announcements are coming through on a fairly regular basis, especially from firms such as MoneyGram and other leaders in the field – and which, according to Alex Holmes, are managing to balance responding to the pandemic with furthering their strategy.

While things might not be back to normal for a long time, developments like these show that there are clear signs that economies will return to normal at some point.

Don’t find yourself falling behind on the latest news from the online money transfer field. Check out our magazine page here to keep up-to-date with all the goings-on in the industry.


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