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MoneyGram Up on Partnership with Japanese Fintech Smiles -Breaking

by Mike Robinson

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© Reuters.

Sam Boughedda

Investing.com — Moneygram Int (NASDAQ:) shares have climbed 4% after announcing a strategic partnership with Digital Wallet Corporation, a fintech company and Smiles Mobile Remittance (Smiles) owner.

Smiles in Japan is a digital wallet and mobile money transfer platform. 

The partnership allows Japan’s consumers to use Smiles, a mobile application that already uses MoneyGram’s global payments rails and close-to-real-time capabilities to send money overseas to more than 200 countries.

Alex Holmes (MoneyGram Chairman and CEO) stated, “Partnering is a crucial component of our strategy and we are delighted to open our unique global platform to one the most rapidly-growing fintechs in the world.” 

“Increasing numbers of businesses are looking for ways to use our core capabilities to add scale and services quickly, and we get excited about the future and how our network can increase payment volumes and create meaningful revenue.

The announcement today follows MoneyGram’s announcement last week that it made a minor investment in Coinme. Coinme is a U.S.-based cryptocurrency cash exchange.

 

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