MoneyGram Partners with Digital Wallet urpay to Power Cross-Border Payments from Saudi Arabia

DALLAS, Dec. 2, 2021

"As the digitization of payments continues to accelerate around the world, innovative partnerships with companies like urpay are instrumental to our growth strategy and enable us to efficiently scale the number of payments we process through our platform," said Alex Holmes, MoneyGram Chairman and CEO. "We are thrilled to be joining forces to offer urpay's millions of users access to our leading cross-border payment capabilities. As we continue to expand our digital offerings and add more digital partners to our global network, MoneyGram's digital business will continue its incredibly strong growth trajectory."

"We are keen to innovate in our local and global partnerships and to be among the first enablers of smart digital banking solutions in the Kingdom," said Adel Al Rajhi, neoleap CEO. "We are aware of the market's need for reliable financial solutions with worldwide standards, and it is our main motive for forming such strategic partnerships. Under this cooperation, urpay customers will be able to transfer money easily and safely across the world, 24/7."

This strategic partnership builds upon the strong momentum MoneyGram has developed in the Middle East and further accelerates digital growth in one of the world's key outbound remittance countries.

"Alongside our strong existing relationships in the Middle East, this latest integration with urpay advances our leading customer-centric capabilities in the region," said Grant Lines, MoneyGram Chief Revenue Officer. "Further, MoneyGram continues to prove to be the preferred partner for cross-border payments. As companies around the world increasingly look to utilize our API-driven infrastructure, this integration through urpay will provide scale to its existing digital offerings and instant access to our cross-border payments and money transfer services."

The partnership is expected to be live for consumers in early 2022.