MGI - MoneyGram launches digital receive capabilities in Jamaica via Lynk alliance

2023-03-10 10:33:20 ET

• MoneyGram International ( NASDAQ: MGI ) has teamed up with Jamaica's mobile wallet application, Lynk, to provide consumers in the country the ability to receive cross-border payments directly to their smartphones, it said Friday.
• The move expands MoneyGram's ( MGI ) global footprint as Lynk is owned by National Commercial Bank Financial Group, which controls more than 60% of the payments markets in Jamaica, said MoneyGram Chief Revenue Officer Grant Lines.
• Lynk, which also enables mobile credit, bill payments and transfers, reached JMD1.5B (US$9.8M) in transactions in December 2022, its first years of operations.
• "Lynk joins a strong roster of digital partners helping us to expand our mobile wallet capabilities into some of the largest receive markets around the world," said MGI Chairman and CEO Alex Holmes.
• As part of its global push, MoneyGram in December expanded its payments platform to Brazil, the largest economy in Latin America .

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