• Enables customers in Asia, Middle East & Africa to send and receive money using their mobile wallets from anywhere in the world in near real-time
  • After the successful launch of international remittance service in the UAE by e&money, the service will be available in e& international markets through Upaisa in Pakistan, Mobily Pay in KSA and Etisalat Cash in Egypt
  • Strategic partnership supports Group's ambitions to scale its high-growth digital business across the region

ABU DHABI: – e& (formerly known as Etisalat Group), one of the world's leading technology and investment conglomerates, and MoneyGram International, a global leader in the evolution of digital peer-to-peer (P2P) payments, today announced an expansion of their strategic partnership enabling e &'s large and fast-growing customer base of 160 million to send and receive money through mobile wallets across its footprint in near real-time.

In the UAE, e& money, the fintech arm of e& life has been partnering with MoneyGram for international remittance service. This agreement solidifies e&'s global aspirations across its other markets to offer customers the most inclusive financial services powered by a seamless experience.

Through mobile wallet app customers in e& international markets can send and receive money globally quickly and effortlessly due to the efficient transactional process offered by MoneyGram. The wallet-to-wallet proposition also amplifies a seamless digital financial experience, given the rapidly evolving customer payment behaviours and the accelerated adoption of contactless payment solutions.

Mikhail Gerchuk, CEO, e& international said: "As more people across the world embrace digital financial services, we are continuously seeking new ways to empower our customers with the best solutions, and embark on value-adding partnerships that help them to access financial services quickly and easily. International money transfer is a crucial service that enables our customers across our footprint to send and receive money from their families, given the large expat population living in the markets where we operate.

Through MoneyGram's expansive network of mobile wallet operators, bank account and card deposit services, and retail locations, customers around the world have the ability to choose how to send and receive money based on their unique requirements. The service has been live throughout UAE and Afghanistan, with Egypt, Pakistan, Saudi Arabia and several other e& international markets in Africa expected to launch in the next few months.

Khalifa Al Shamsi, CEO, e& life, said: "We have always aimed to revolutionise customer experience through innovative solutions that help meet the financial needs of our customers. The strategic partnership with MoneyGram has been enabling us continue building this solid foundation of growth, adding to the array of financial products and services that enhance and add value to our customers' lives. We will continue to work with MoneyGram and its vast network for the benefit of e& money subscribers while addressing the growing demand for a financial super app marketplace."

"As a result of our strategy to invest in our digital network that now extends to over 100 countries, we're seeing increased demand to access our global platform. As more digital partners seek to embed our leading fintech capabilities into their service offerings, we see a significant growth opportunity to efficiently add transactions to our scalable platform," said Alex Holmes, MoneyGram Chairman and CEO. "Our collaborative relationship with e& has grown to become one of our strongest and more successful digital partnerships. We're thrilled to continue to expand our relationship as their preferred partner for cross-border payments across all of the 16 markets in which they operate." 

Etisalat Group has changed its brand identity to e&, effective from 23 February 2022. Its strategy aims to accelerate growth through the creation of a resilient business model representing the Group's main business pillars. The telecoms business currently continues to be led by etisalat by e& in e &'s home market, upholding the Group's rich telecoms heritage, bolstering the strong telecoms network and maximising value for the Group's various customer segments. The telecoms business is led by existing subsidiaries for e& international in 16 countries where the Group operates, with a focus on growing an international portfolio of world-class modern digital telcos by providing the best customer experience, building world-class digital capabilities and embracing expansion opportunities. Ramping up the digital services for individual customers to elevate their digital-first lifestyle, e& life brings next-generation technologies through smart connectivity platforms in entertainment, retail and financial technology. To enable the digital transformation of governments, large-scale enterprises and corporates, e& enterprise focuses on maximising value through its end-to-end solutions in cybersecurity, cloud, Internet of Things (IoT) and Artificial Intelligence (AI), as well as deploying mega projects. e& capital allows the Group to focus its efforts on driving new mergers and acquisitions while maximising shareholder value and strengthening global presence.

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About MoneyGram International, Inc.

MoneyGram International, Inc. (NASDAQ: MGI), a global leader in the evolution of digital P2P payments, delivers innovative financial solutions to connect the world's communities. With a purpose-driven strategy to mobilize the movement of money, a strong culture of fintech innovation, and leading customer-centric capabilities, MoneyGram has grown to serve over 150 million people in the last five years. The Company leverages its modern, mobile, and API-driven platform and collaborates with the world's top brands to serve consumers through its direct-to-consumer digital channel, global retail network, and embedded finance business for enterprise customers. MoneyGram is also a leader in pioneering cross-border payment innovation and blockchain-enabled settlement. For more information, please visit ir.moneygram.com, follow @MoneyGram on social media, and explore the website and mobile app through moneygram.com.

About e& international

e& international is responsible for growing an international portfolio of world-class modern digital telcos. Its main focus through the Group's operating companies in 16 countries is to empower customers with the best connectivity, most inclusive financial services, richest entertainment and seamless business transformation. It will accelerate growth by providing the best customer experience, building world-class digital capabilities and embracing expansion opportunities in the Middle East, Africa, Asia and Eastern Europe through acquisitions and strategic partnerships.

About e& money, from e&

e& money, from e&, is the first wallet licensed by the Central Bank in the UAE that ushered a new era of digital payments in the country, enabling new growth opportunities for both telecom and the banking sectors. Regulated and licensed by the UAE Central Bank, e& money was launched as a digital payment service aimed at empowering the UAE citizens and residents with safe, convenient, and flexible payment solutions through an easy-to-use mobile application. e& money caters to both banked and unbanked segments of the society as it does not require a bank account, credit or debit card to complete digital transactions and payments. The service is available via smartphone applications for consumers, web portals, smartphone applications and direct interface using APIs for agents, merchants and corporations.

MoneyGram Media Contact
Sydney Schoolfield
media@moneygram.com

e& international Media Contact
Nancy Sudheer
nsudheer@eand.com