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Ripple Partner Moneygram Joins Hands with Tesco Bank, Expands Retail Adoption

The U.K.-based customers of Moneygram can now enjoy one more convenient way to send money abroad

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As covered by U.K. business media outlets, a new partnership will allow Moneygram to transfer users' assets through the Tesco banking platform.

Moneygram partners with Tesco, advances international remittances ecosystem

A new way to send money is introduced by Moneygram in partnership with Tesco. Now, every customer can initiate transactions with his/her Moneygram account, specify transaction information and send money. In 24 hours, he/she may deposit money in every Tesco store. At press time, the feature is available in 810 Tesco stores across the U.K.

Ripple's partner Moneygram joins efforts with Tesco
Image by Moneygram

Very soon, 129 more Tesco and Tesco Express stores will join the program covered by the partnership. In 18 months, all 1500 stores will support Moneygram transactions. Transactional fees for new services will start from GBP 0.99.

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This novelty will reduce infrastructural and organizational barriers for cross-border transactions. Clients of both Moneygram and Tesco will have one more way to send money abroad.

Moneygram transfers are available for customers in 200 countries and territories. Seventy-five countries support digital currency transactions.

Ripple is expanding worldwide

Richard Meredith, head of the U.K.'s key partnership at MoneyGram, highly values the new cooperation:

This solution is a key milestone in our ongoing collaboration with Tesco Bank in being able to offer a seamless, digitised experience for customers.

With Tesco collaboration, Moneygram has strengthened its positions on the U.K. market. However, it inked a number of meaningful partnerships with payment providers and IT companies across emerging economies.

As covered by CryptoComes recently, Moneygram partnered with top-notch regional telecommunications provider Airtel Africa. This telecom services vendor has onboarded 19 mln customers so far.

👉 MUST READ Ripple’s Partner MoneyGram Inks Deal with Major Telecommunications Companyrelated article image

Moneygram is a long-term partner of Ripple digital currencies payments provider. Both teams are empowering customers over the world with instant and low-cost cross-border remittances.

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Vladislav Sopov

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)