MoneyGram & OzForex partner to give Oceania customers more options

MoneyGram, a worldwide leader in cash transfers has agreed to partner with OzForex, one of the world’s leading foreign Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term service providers. In this agreement, MoneyGram customers can now transfer money from Australia or New Zealand to bank accounts overseas via PC, tablet, or mobile phone.

This will also allow customized transfer options including on specific dates or at specific exchange rate targets. Clients can also decide to bundle transactions to cut down on transaction fees they would incur by filing them separately. The ability to control their fees will be attractive to the Australian and New Zealand markets which like their neighbor Indonesia, have a very high smart phone penetration rate, as well as a high immigrant population.

“MoneyGram’s goal is to deliver the fastest, most efficient, secure and affordable money transfers for our customers,” said Robert Walls, MoneyGram's regional director of Australia, New Zealand & Pacific Islands. “Collaborating with agents and technology companies like OzForex, which is a leading player in this space, enables us to keep our fees competitive while offering more convenient account-to-account money transfer options.”

MoneyGram also has a strong presence in Latin America’s pacific side, where many individuals who immigrate to Oceania have family and friends, as well as business partners. We will continue to report on MoneyGram’s expansions into international transfers, as it is certain that this new partnership fuel growth into other markets.