MoneyGram Partners with MMBL Money Transfer to Expand Access

MoneyGram International, Inc. (NASDAQ: MGI), a global leader in cross-border P2P payments and money transfers, today announced that it has entered into a partnership with MMBL Money Transfer, a leading money transfer operator in Sri Lanka to provide convenient access for consumers to receive money from around the world at any MMBL Money Master location.

“As MoneyGram continues to focus on investing in key receive markets, we’re excited to expand our presence in one of the key markets in South Asia by partnering with MMBL Money Transfer in Sri Lanka,” said Anil Kapur, Head of Asia Pacific and South Asia, MoneyGram. “MMBL is known as a pioneer in financial services, and we’re proud to partner with them to enable millions of people the option to receive money at any of MMBL’s convenient walk-in locations across Sri Lanka. Importantly, this partnership also enables Sri Lankan consumers to pick-up money transfers during nights and weekends.”
MMBL Money Transfer operates through an island-wide network of over 2,000 payout MMBL Money Master locations comprising of banks, non-banking financial institutions, co-operative rural banks, and most importantly, retail outlets. This vast and diverse network gives the consumer the widest choice of easily accessible locations.
“We are delighted to join hands with MoneyGram and look forward to offering a world- renowned product to our customers. With over 25 years of experience in money transfer services, backed by Aitken Spence PLC (a blue chip conglomerate) and Mercantile Merchant Bank Ltd, MMBL is confident of adding more value to MoneyGram and to the beneficiaries of the service,’’ said Dinesh Mendis, Director, Aitken Spence Group Ltd / Managing Director, MMBL Money Transfer (Pvt) Ltd.