MoneyGram continues to grow its network in the Caribbean by reaching thousands of customers in Massy stores throughout Saint Vincent and the Grenadines
MoneyGram International, Inc., a global leader in the evolution of digital P2P payments, today announced the expansion of its network in the Caribbean with Massy Finance Remittances, the leading financial payments company serving the Caribbean region. Through this partnership, MoneyGram customers in Saint Vincent and the Grenadines will be able to visit Massy stores throughout Saint Vincent and the Grenadines to send and receive money to and from family and friends around the globe.
“We are excited to extend our partnership with Massy Finance Remittances as we continue to expand retail partnerships in regions that heavily rely on global remittances,” said Robert Dinkins, Head of Caribbean Region at MoneyGram. “For over two decades, MoneyGram and Massy Finance Remittances have partnered to enable customers in the Caribbean to easily send or receive money around the world, and we look forward to seeing our partnership continue to flourish in the years to come.”
MoneyGram services are currently offered at Massy Stores in a number of Caribbean countries including Trinidad, Tobago, Guyana and St. Lucia. Through this expansion, MoneyGram customers can now send and receive money in Massy Stores in Kingstown, Arnols Vale and Stoney Ground.
“Massy Remittances has enjoyed a long-standing relationship with MoneyGram for over 20 years. This partnership has evolved over the years where the MoneyGram brand is part of our Remittance family,” said Neela Marquez, CEO at Massy Remittance Services (St. Vincent) Ltd. “We are poised to represent one of the leading Money Transfer companies that has all its Caribbean agents at the heart of every transaction through collaboration. Their agent engagement strategy is remarkable, and we will leverage the pillars of technology to bring innovative products to the people of St. Vincent and the Grenadines and the wider Caribbean where we serve.”
There has been an increase in remittance flows to the Caribbean in 2020 after the onset of the pandemic. According to the World Bank, in 2020, remittance flows to Latin America and the Caribbean grew an estimated 6.5% to $103B. The Caribbean is heavily reliant on these funds, and the Inter-American Development Bank estimates that they represent approx. 8% of GDP in Saint Vincent.
Services as a result of the expansion between MoneyGram and Massy Finance Remittances are now live.
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.
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About Massy Finance Remittances
Massy Finance Remittances operates agencies for MoneyGram in Trinidad and Tobago, Guyana, and St. Lucia representing on a combined basis, the largest MoneyGram Agency in the Caribbean Region. In Trinidad and Tobago, Massy Remittances is an authorized Bureau De Change dealer offering Cambio Services while in Guyana the company offers Sure Pay bill payment services, Hire Purchase and Payroll Service.
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