Fiserv expands P2P payments with MoneyGram International agreement

Cross-border and cash payment options

The agreement will integrate MoneyGram’s money transfer services with Fiserv’s person-to-person (P2P) Popmoney product (view press release). The collaboration will allow customers of the 1400 financial institutions registered with Popmoney to send money through MoneyGram’s network of 267,000 centres, in 192 countries. Customers will also be able to receive cash payment in person via Popmoney at any MoneyGram agent centre. Fiserv’s Popmoney service enables bank and credit union account holders to request, send and receive electronic payments with their existing bank account. Money can be sent using either the recipient’s email address, mobile phone number or bank account information.

Neil Platt, senior vice president and general manager of payments of Fiserv’s CashEdge Division says “Working with MoneyGram will allow Fiserv to enhance the Popmoney service with cross-border and cash payment options, and expand consumer choices for managing their money.”

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