MoneyGram seals strategic partnership with Comera Pay
ABU DHABI, 4 days ago
MoneyGram International, a leading global financial technology company that connects the world's communities, has 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, said MoneyGram in a statement.
"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," remarked Ahmed Aly, the 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," stated Aly.
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, he added.
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, said a top official.
"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," he added.-TradeArabia News Service
