Moneygram partner Facebook’s payments platform PicomoPay

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MoneyGram has announced it is teaming up with PicomoPay to enable consumers in the US to transfer money via PicomoPay’s Facebook application to more than 300,000 MoneyGram agent locations in over 200 countries.

PicomoPay is a social and mobile payments platform integrated within Facebook. Its primary business is to allow consumers to conduct person-to-person payments funded by their PicomoPay Digital Wallet, and to buy and send virtual gift cards on Facebook.

“The opportunity to have a relationship with PicomoPay furthers our goal of accelerating the growth of our self-service channels,” says Alex Hoffmann, MoneyGram executive vice president Global Product & Emerging Channels. “By working with a company that has already succeeded in monetizing social media, we are giving our consumers innovative options to send money for life’s essentials, however they want, wherever that want, whenever they want.”

“By leveraging growing payment trends on Facebook, the PicomoPay team is helping meet the huge demand for sending funds back to family and friends in their home markets,” says Shoko Tsuji, vice president of Corporate Communications of PicomoPay. “Our alignment with MoneyGram provides an extensive global network that allows consumers to transfer funds to their loved ones securely and easily.”

The innovative social media service will be available to consumers in May.

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