By Sam Boughedda
Investing.com — Moneygram Int (NASDAQ:) shares have climbed 4% soon after announcing a strategic partnership with Electronic Wallet Corporation, a fintech firm and Smiles Mobile Remittance (Smiles) proprietor.
Smiles is a cell revenue transfer system and digital wallet in Japan.
As a result of the partnership, consumers in Japan can now use the Smiles cell application, which currently makes use of MoneyGram’s worldwide payment rails and near authentic-time capabilities, to send out cash to individuals in extra than 200 international locations all over the world.
“Partnering with leading fintech organizations about the planet is a vital part of our strategy, and we are thrilled to open up our exclusive, world wide platform to one of the world’s fastest-increasing fintechs,” stated Alex Holmes, MoneyGram chairman and CEO.
“An expanding number of businesses are searching to leverage our main abilities to speedily insert solutions and scale, and we proceed to get fired up about rising payment volumes via our network and making significant processing income in the yrs ahead.”
Present-day news follows very last week’s announcement from MoneyGram that it had made a minority investment in Coinme, a cryptocurrency cash exchange in the U.S.