MoneyGram has hooked up with Lynk, a mobile wallet for consumers in Jamaica, to introduce digital receive capabilities in the country. This marks the first time a money transfer organisation is providing this capability in Jamaica.
Through this partnership, Lynk’s user base will have the ability to receive cross-border payments directly to their smartphones.
MoneyGram‘s global payment rails enable Lynk to tap into its payment network and expand its offerings to include international digital receive capabilities. Both companies share a focus on customer-centricity and aim to provide consumers in Jamaica with a faster, more convenient, and safer way to collect funds sent from loved ones around the world.
As a result of this partnership, MoneyGram is able to expand its mobile wallet capabilities into one of the largest receive markets in the world.
“This is a huge development for consumers in Jamaica, one of our largest inbound markets globally with money coming from loved ones in our top outbound markets, such as the United States and Canada,” said Grant Lines, MoneyGram’s chief revenue officer.
Transfers in Jamaica
In December 2022, Lynk announced that its mobile wallet hit $1.5billion JMD in transactions in its first year of operations. Along with the new remittance feature, the app enables users to purchase mobile credit, pay bills at over 300 locations, transfer to other Lynk accounts, and pay for goods and services at over 5,000 local businesses across Jamaica.
“This exciting, first-to-market, development was designed with customer needs in mind,” said Vernon James, Lynk’s CEO. “International money transfer is a crucial service in Jamaica, and we are proud to work closely with MoneyGram to empower our customers to receive money on-the-go, from the comfort of their own homes, or wherever they are.”
MoneyGram’s cross-border platform enables customers to send funds directly into bank accounts and mobile wallets or cash-in and cash-out more than 135 currencies and numerous cryptocurrencies through one of the largest cash distribution networks globally.