MoneyGram International, Inc, a global financial technology company connecting the world’s communities, today announced a strategic partnership with innovative financial technology application barraq.
Through this partnership, consumers in Saudi Arabia will be able to use the barraq mobile app to send funds to family and friends worldwide. This is made possible through MoneyGram’s advanced cross-border technology platform that allows recipients to access their funds through a range of digital methods and retail locations around the world.
“We are excited to work with the barraq team as they join a growing list of global fintech partners who choose MoneyGram for our vast network, leading technology and mobile APIs,” said Alex Holmes, CEO of MoneyGram. “barraq is expected 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.”
MoneyGram has established itself as the preferred remittance partner in the Middle East digital ecosystem, evidenced by the Company’s recent successes with digital partners and significant growth in the region. As MoneyGram continues to deepen relationships with existing partners in the Middle East, today’s announcement highlights opportunities for even further expansion.
“We are pleased to begin this strategic partnership with MoneyGram, a trusted money transfer provider with an extensive global network,” said Ahmed Alenazi, CEO of barraq. “It’s been exciting to see demand for barraq grow, and we look forward to seeing our app rank very high among digital wallet options for features, secure payment methods and device compatibility. We look forward to partnering with MoneyGram on our journey.”