Dubai, UAE – 4th December, 2024 – MoneyGram International, Inc., a leading global financial technology company that connects the world’s communities, today announced a strategic partnership with Comera Pay, the all-inclusive suite of digital payment services in the UAE , from Comera Financial Holding Ltd., part of the Royal Group of companies in Abu Dhabi.
Comera Pay is integrated in the Comera app, the leading voice calling and messaging app in the region with over eight million active users. The collaboration will enable Comera Pay customers to seamlessly send cross-border remittances from the UAE to over 200 countries and territories around the world via the MoneyGram global network.
“Through our partnership with Comera Pay and the integration of their advanced technological infrastructure with ours, we strengthen our commitment to facilitate seamless connections across borders, all while supporting the UAE’s transition to a cashless society,” said Ahmed Aly, Head of Middle East, Asia Pacific, and South Asia at MoneyGram. “This is a significant step in strengthening our dominance in the UAE, where we are already the leader in digital remittances. We look forward to bringing this service to Comera’s vast and growing customer base.”
The UAE is one of the largest outbound remittance markets globally. The collaboration with Comera Pay is expected to drive substantial transaction volumes, cementing MoneyGram’s position as the market leader in the UAE’s digital remittance space.
“Comera Pay supports the UAE’s ambition of a cashless economy. Our partnership with MoneyGram is a commitment to deliver reliable cross-border money transfer services to our customers from the UAE,” said Harish Parameswaran,Vice President of Comera Pay. “With MoneyGram’s trusted global network and Comera’s strong foundation in the UAE and the ME region, we are excited to offer secure and convenient digital payment services to meet shifting consumer preferences.”
This new offering is made possible by Comera Pay’s recent approval by the UAE Central Bank. The authorizations enable Comera Pay to provide safe, reliable and compliant cross-border money transfer services, further expanding the digital remittance landscape in the UAE.
About MoneyGram International, Inc.
MoneyGram International, Inc. is a global financial technology company enabling consumers and businesses to move and manage money in nearly every country around the world. Through its innovative cross-border platform, MoneyGram provides millions of consumers globally the ability to send money home for family and friends to pick up in cash or receive directly to a bank account, mobile wallet or card. The Company is a pioneer in the use of blockchain technology at scale and also enables consumers to buy, sell and hold digital currencies on its industry-leading app. With one of the world’s most extensive and dynamic cash distribution networks, MoneyGram has become the single largest on and off-ramp provider for digital currencies in the world. The MoneyGram team spans the globe with over 2,000 employees across 36 countries, representing more than 75 nationalities. Headquartered in Dallas, Texas, and known for its strong corporate culture globally, MoneyGram has been named a recipient of the Top Workplaces USA award for three consecutive years. By the numbers, MoneyGram serves more than 50 million people in over 200 countries and territories each year, processing more than $200 billion USD annually. Relentlessly digital-first and customer-centric, the Company’s digital transactions now account for over 50% of its money transfer business.
About Comera Pay
Comera Pay is the fintech subsidiary of Comera Financial Holding, part of The Royal Group- Abu Dhabi, offering digital payment services. Licenced and regulated by Central Bank of the UAE, Comera Pay offers a range of seamless, secure and user-friendly cashless payment solutions through a digital wallet, including wallet-to-wallet transfers, remittances, bill payments, mobile top ups, virtual IBANs and more to consumers and business in the UAE. As an all-in-one digital payment solution, Comera Pay aims to drive the UAE’s transition towards a cashless society.
Comera Pay is built as part of Comera messaging app, leading communication platform across the region.
Comera Pay is available on Google Play and App Store.
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