MoneyGram and Tesco Bank launch new intl’ online money transfer platform

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LONDON: MoneyGram International, Inc., a global leader in cross-border P2P payments and money transfers, Wednesday announced the launch of a new international online money transfer platform in partnership with Tesco Bank.

The platform allows MoneyGram and Tesco customers to set up their transactions online and then pay by cash or card at Tesco stores. This new service allows customers to easily send money abroad, reduces the process time and eliminates the need to complete paperwork in-store. This is being introduced at a time when an increasing amount of money is being digitally transferred from the UK to overseas destinations.

The launch of this new capability is an important milestone for the partnership between MoneyGram and Tesco Bank, which was formed over seven years ago. The new service has now been introduced to 129 Tesco Express stores across the UK, adding to the existing 810 stores that currently offer the service. Full roll-out to around 1,500 Tesco Express stores is expected over the next 18 months.

“We are continually evolving our customer proposition through our leading digital capabilities and customer-centric solutions,” said Richard Meredith, Head of UK Key Partnership at MoneyGram. “This solution is a key milestone in our ongoing collaboration with Tesco Bank in being able to offer a seamless, digitised experience for customers.”

Sigga Sigurdardottir, Chief Customer Officer at Tesco Bank added: “There are millions of people across the UK sending money abroad to help loved ones with everyday needs or in times of emergency. Our goal is to help Tesco shoppers manage their money a little better every day, and this enhancement to our partnership with MoneyGram lets customers send money overseas even more efficiently than before.”

For more information and to start sending money through the platform, visit tesco.moneygram.com.