MoneyGram Up on Partnership with Japanese Fintech Smiles

  • Stock Market News
MoneyGram Up on Partnership with Japanese Fintech Smiles
Credit: © Reuters.

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

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

As a result of the partnership, consumers in Japan can now use the Smiles mobile app, which already utilizes MoneyGram's global payment rails and near real-time capabilities, to send money to people in more than 200 countries around the world.

"Partnering with leading fintech companies around the world is a critical component of our strategy, and we are thrilled to open our unique, global platform to one of the world's fastest-growing fintechs," said Alex Holmes, MoneyGram chairman and CEO. 

"An increasing number of companies are looking to leverage our core capabilities to quickly add services and scale, and we continue to get excited about increasing payment volumes through our network and creating meaningful processing revenue in the years ahead."

Today's news follows last week's announcement from MoneyGram that it had made a minority investment in Coinme, a cryptocurrency cash exchange in the U.S.


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