• MoneyGram partners with Saudi Arabia’s barraq mobile app to enable global fund transfers through advanced cross-border technology platforms.
  • The partnership aims to leverage MoneyGram’s extensive network and leading technology to cater to the growing demand for digital financial services in the Middle East.

MoneyGram International, Inc. (“MoneyGram” or the “Company”), a global financial technology company that connects the world’s communities, announced a strategic partnership with the innovative financial technology app barraq.

The partnership makes the global remittance easier

Through the partnership between MoneyGram and barraq, consumers in Saudi Arabia will be able to use the barraq mobile app to transfer funds to family and friends around the world. Recipients are accessible to their funds through a suite of digital methods and retail locations around the world, utilizing MoneyGram’s advanced cross-border technology platform.

“We’re thrilled to partner with the barraq team as they join a growing list of global fintech partners choosing MoneyGram for our vast network, leading technology and mobile APIs,” said Alex Holmes, MoneyGram Chief Executive Officer. “barraq is anticipated to be the Middle East’s fastest-growing financial app, so we’re excited to reach new customers and expand our leadership position in one of the world’s largest outbound remittance regions.”

Also read: Visa, Western Union expand cross-border money transfers

MoneyGram got itself special position in the Middle East’s digital ecosystem

MoneyGram has become the remittance partner of choice in the Middle East’s digital ecosystem, as evidenced by the company’s recent successes with digital partners and significant growth in the region. Today’s announcement highlights opportunities for further expansion as MoneyGram continues to deepen its relationships with existing partners in the Middle East.

“We are pleased to launch this strategic partnership with MoneyGram, a trusted money transfer provider with an expansive global network,” shared Ahmed Alenazi, barraq Chief Executive Officer. “It’s been exciting to see demand build for barraq, and we look forward to our app ranking very highly among digital wallet options for its features, secure payment methods, and device compatibility. We look forward to partnering with MoneyGram on our journey.”