Ripple’s major partner and famous money transfer firm, MoneyGram International has partnered with Sri Lanka’s major cash transfer firm MMBL Money Transfer in an attempt to expand its global money transfer platform’s access to millions of users in Sri Lanka. As reported by the local media outlet, the partnership between these two major firms will allow consumers to receive money from anywhere in the world using any of the locations of MMBL Money Master.
Opportunities for the expansion of MoneyGram in Sri Lanka
MoneyGram is now the partner of Sri Lanka’s top cash transfer company. This partnership will create new opportunities for the expansion of MoneyGram in Sri Lanka to millions of new users.
Anil Kapur, MoneyGram’s Head of the Asia Pacific and South Asia, believes that the major benefit for MMBL Money Transfer as a partner of MoneyGram is that its users can get money transfers during nights as well as on weekends as well.
Anil Kapur said in a statement:
“As MoneyGram continues to focus on investing in key receive markets, we’re excited to expand our presence in one of the key markets in South Asia by partnering with MMBL Money Transfer in Sri Lanka. MMBL is known as a pioneer in financial services, and we’re proud to partner with them to enable millions of people the option to receive money at any of MMBL’s convenient walk-in locations across Sri Lanka. Importantly, this partnership also enables Sri Lankan consumers to pick-up money transfers during nights and weekends.”
2000 payout MMBL Money Master locations
According to the report, there are more than 2,000 payout MMBL Money Master locations which are currently being operated by MMBL Money Transfer. These include banking and non-banking institutions, retail outlets, as well as rural banks.
The director at MMBL Money Transfer (Pvt) Ltd Dinesh Mendis said that they are pleased on making partnership with MoneyGram. Mendis claimed that the firm is providing services of money transfers for more than 25 years. Furthermore, he said, “MMBL is confident of adding more value to MoneyGram and to the beneficiaries of the service”.