MoneyGram International, Inc., a global leader in cross-border P2P payments and money transfers, today announced a partnership with PayMaya Philippines to launch a new digital capability that allows customers to send money fromÂ the United StatesÂ toÂ the PhilippinesÂ through Visa Direct,Â Visa’sÂ real-time push-payment solution. Consumers inÂ the United StatesÂ can use the leadingÂ MoneyGramÂ mobile app or website to send money that arrives almost instantly to any PayMaya Visa cardholder located inÂ the Philippines.
“Our digital business is delivering phenomenal growth driven by strong demand for our customer-centric capabilities as well as our leading global network that enables consumers to quickly and conveniently receive money directly into their bank accounts,” saidÂ Kamila Chytil,Â MoneyGramÂ Chief Operating Officer and leader of the Company’s digital business. “Our strong partnership with Visa Direct has been an important part of our strategy to accelerate digital growth over the last few years, and I’m excited about how this latest integration with PayMaya will further improve the customer experience and drive digital growth.”
“We are glad to offer yet another convenient way for PayMaya account holders across the country toÂ quickly and convenientlyÂ receive fundsÂ from their loved ones inÂ the United StatesÂ through our partnership withÂ MoneyGramÂ andÂ Visa.Â As cashless becomes the default for most, Filipinos can now experience safe and convenient ways to receive funds and transact even while at home through this service using their PayMaya app,”Â saidÂ Shailesh Baidwan, President of PayMaya.
“InÂ the PhilippinesÂ today, majority ofÂ VisaÂ debit and prepaid cards are enabled to receive real-time payments viaÂ Visa’sÂ real-time push payment solution, Visa Direct. We are extremely pleased to work with PayMaya andÂ MoneyGramÂ to enableÂ VisaÂ cardholders inÂ the PhilippinesÂ the ability to receive funds seamlessly and securely from their family and loved ones inÂ United States.
“According to BSP’s data, Overseas Filipino Workers made a total of US$11 billion for US-based remittances in 20192Â and money transfers fromÂ U.S.Â contributed close to 40% of total remittances inÂ the Philippines.3Â In this digital age, we believe it is important to introduce solutions that can benefit our cardholders’ lives, including making cross-border remittances hassle-free and efficient,” saidÂ Dan Wolbert, Visa Country Manager forÂ the PhilippinesÂ &Â Guam.
This new service is a huge milestone for the remittance industry inÂ the PhilippinesÂ which is one of the largest markets globally. The approximately two million Filipinos living and working inÂ the United States will now be able to useÂ MoneyGramÂ to send money seamlessly and conveniently via Visa Direct either onÂ MoneyGram’s website or mobile app, to any PayMaya account holder inÂ the PhilippinesÂ using their 16-digitÂ VisaÂ physical or virtual card number.
Once they have received the funds in their PayMaya accounts, they can easily use the funds to shop online or in-store using the sameÂ VisaÂ card, or buy load, pay their bills, settle their government dues, and send money to other PayMaya users or Smart Padala centers nationwide, all within the PayMaya app.
HEADLINES YOU MIGHT HAVE MISSED FROM BRAND SPUR
WorldwideÂ smartphoneÂ sales suffered a hit during the second quarter of 2020, dropping by 20.4%. In total, 294.7 million units were sold during the three-month period compared to 370.3 million units in Q2 2019.
In a bid to further enhance rapid economic growth in Ogun State as well as ensure the wellbeing of its citizenry, the State Government has released the sum of Five Hundred Thousand Naira as subvention to Trade Associations and Artisan Groups.
The late General Sani Abacha was a Nigerian army general and dictator who ruled Nigeria from 1993 until his death in 1998. The Sani Abacha administration period had a boom in the country’s federal exchange reserve from $494 million in 1993 to $9.6 billion by the middle of 1997 and the administration also reduced the external debt of Nigeria from $36billiom in 1993 to $27 billion by 1997.