Ooredoo partners with MoneyGram, launches international money transfers via m-Faisaa

Khalid Al Hamadi, the CEO and Managing Director of Ooredoo Maldives (R) and Naved Ashraf, MoneyGram Regional Head of South Asia (L). (Photo/Ooredoo Maldives)

Ooredoo Maldives has officially launched international money transfer services from its digital wallet m-Faisaa, in partnership with MoneyGram International, Inc., a leading global financial tech company.

The services launched on Sunday.

According to Ooredoo, the partnership will enable customers in Maldives to send money to their loved ones across the globe.

Through MoneyGram’s global payment rails, Ooredoo Maldives customers can now send money directly to their loved ones’ bank account, mobile wallet or for cash pick-up at any of the worldwide MoneyGram agent locations, subject to service availability in the receive country.

“We are delighted to officially launch international money transfer services from our digital wallet m-Faisaa in partnership with MoneyGram, for the first time in Maldives. Catering to the need for fast, reliable and convenient money transfers, m-Faisaa provides a solution for our expat community, business travelers and students residing abroad, breaking barriers and challenges encountered in traditional money transfer services. We’re excited to embark on this journey with MoneyGram, a global leader in financial technology and cross-border P2P payments, to ensure a reliable, convenient and a fast service,” said Khalid Al Hamadi, the CEO and Managing Director of Ooredoo Maldives.

 “As a community enabler connecting our people across the nation to new opportunities, we remain committed to further develop digital financial services in Maldives and ensure financial inclusion for all.”

With a purpose-driven strategy, a strong culture of fintech innovation, and leading customer-centric capabilities, MoneyGram leverages its modern, mobile, and API-driven platform and collaborates with the world's top brands to mobilize the movement of money.

“We’re excited to partner with Ooredoo Maldives and to add the digital option of sends in Maldives.   This new partnership will enable us to provide convenience for consumers and better serve and reach customers who need to send funds to their families and loved ones across the globe,” said Naved Ashraf, MoneyGram Regional Head of South Asia.

Since the issuance of the license, Ooredoo Maldives has been working on integrating its systems with its international partners and has conducted various testing of its systems. The company said it welcomes customers from any network to use m-Faisaa services, including the international money transfer services.

Ooredoo Maldives said that with this project, the company looks forward to continuing working closely with Maldives Monetary Authority (MMA) to provide innovative payment solutions and enhance digital financial services for communities and businesses across the nation.