MoneyGram joins forces with LuLu Money to boost Asia-Pacific, Oman expansion

Abu Dhabi – Mubasher: The leading non-banking financial firm LuLu Money has signed a partnership agreement with the US-based non-banking financial services company MoneyGram International to meet customers’ digital remittance needs in the Asia-Pacific region.

Under the partnership, LuLu Money will use MoneyGram API-driven platform to expand its global network and gain access to high-level consumer-centric capabilities, according to a statement on Tuesday.

The new deal will help MoneyGram and LuLu Money expand their footprint in the Asia-Pacific region and Oman.

“MoneyGram money transfers will be available through an extensive network of Lulu Money branches, liaison offices, and 50,000+ trusted agents.”

Currently, remittance outflows to East Asia and the Pacific stands at $149 billion, with expectations for further growth in the next years.

Commenting on the agreement, Adeeb Ahmed, managing director of LuLu Financial Group, said, “This partnership will revolutionise how the region manages its high volume of remittances, launching unique services into the market, changing the way people approach digital transactions and remittances.”

“LuLu Money has made a major push to digitise its money transfer business through this partnership. MoneyGram looks forward to working with them to create new innovative products and services that extend our digital reach and bring financial inclusion to customers throughout the Asia-Pacific market,” Alex Holmes, chairman and CEO at MoneyGram, noted.