Pay-by-bank capabilities now available to MoneyGram customers in key European markets following successful U.S. launch
MoneyGram, a leading global payments network for consumers, businesses and communities, and Plaid, the data network powering the fintech tools millions of people rely on to lead a healthier financial life, announced the expansion of their pay-by-bank partnership to Europe.
„Following its successful U.S. launch, the integration now enables MoneyGram customers in Europe to easily connect and authenticate their bank accounts through Plaid’s trusted open banking technology, providing a new seamless and secure option to fund international payments across key European markets.” – the company said.
„The international expansion of our partnership with Plaid reflects our commitment to save customers time, effort and money by continuously improving their experience,” said Anthony Soohoo, Chief Executive Officer at MoneyGram. „We’re working with Plaid to build faster, more powerful tools that make cross-border money movement simple and reliable for everyone.”
This expansion further strengthens the MoneyGram global network, which spans more than 200 countries and territories, approximately 500,000 retail locations and over five billion digital touchpoints. Each year, the company serves more than 50 million people.
„The first phase of open banking was about enabling consumers. Now, it’s driving the direction of how innovation unfolds next,” said Brian Dammeir, Head of Payments and Financial Management at Plaid. „When it comes to payments, Europeans want to move money across the continent and beyond quickly and friction-free. MoneyGram provides increasingly in-demand experiences, powered by Plaid’s Pay by Bank.”
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