Moneygram Advances Mobile Wallet Capabilities With Five-Year Extension To Ooredoo Qatar Partnership

MoneyGram International, Inc. (NASDAQ: MGI), a global leader in cross-border P2P payments and money transfers, today announced a five-year extension to its partnership with Ooredoo Qatar, the leading telecommunications operator in Qatar. The renewal enables MoneyGram customers to continue to send money in near real-time to family and friends through Ooredoo Money Wallet, a virtual account that allows customers to easily deposit, access or withdraw money.  

"We're excited to extend our partnership with Ooredoo Qatar for another five years as we continue to build upon the strong momentum in our digital transformation," said Alex Holmes, MoneyGram Chairman and CEO. "As our first fully digital partner back in 2012, Ooredoo has been a driving force in our shift to digital in the Middle Eastern market, and we look forward to seeing our partnership continue to flourish in the years to come."

Ooredoo was recently awarded "MoneyGram Global Agent of the Year" due to the explosive triple digit year-over-year transaction growth it experienced in 2020 as well as its collaborative strategy to further improve customer experience. As consumer demand for account deposit services and digital options continues to increase, MoneyGram and Ooredoo Qatar are giving consumers the opportunity to send and receive money from the comfort of their own homes, which has been especially important in the last year.

"With Qatar being one of the largest outbound international remittance markets, our strategic partnership with MoneyGram continues to help connect friends and family around the world through fast, convenient and affordable money transfer services," said Fatima Sultan Al Kuwari, Chief Consumer Officer at Ooredoo Qatar. "The length of the new contract term is a testament to the strength and ongoing success of this partnership, and we are excited about what this means for the future of digital remittances in the Middle East."