By
Mayowa Adebajo
April 18th, 2024
Ripple-backed MoneyGram launched a new service called FastSend to help customers to send money directly to the phone numbers of recipients. Meanwhile, Ripple has entered into a partnership with the National Bank of Egypt.
In its bid to digitalize the entire financial ecosystem, leading P2P cross border Ripple-backed payment platform MoneyGram has announced today the launch of MoneyGram FastSend. It is a new service that is geared towards sending money to a recipient’s phone number through the MoneyGram website and mobile application.
Moneygram Offers Revolutionary Financial Services
Technology is changing the face of the world and mobile money transfer should not be left out in this revolution. In other to meet the yearning and aspiration of its teeming users, MoneyGram is bringing the money straight to their mobile phone.
The new service, which will be supported by Visa direct rails, enables the industry’s fastest transaction times and the most seamless money transfer user experience. With this new service, customers can now send and receive money with just a click of a button.
Commenting on the launch of the latest service, MoneyGram Chairman and Chief Executive Officer Alex Holmes stated that:
“With the launch of the new FastSend Service, sending money is now as easy as sending a text. FastSend builds on the success of our extremely popular mobile application and will further MoneyGram’s leading position in the evolution of digital P2P payments.”
Seamless mobile money transaction is the new concept in the world financial market and firms are jumping in on one another to have a slice of the diverse market.
Ripple Partners with National Bank of Egypt on Faster Remittance Payments
Leading blockchain-based payments platform Ripple is taking its global expansionist ambition further to North Africa by partnering with Egypt’s Apex Bank on faster remittance payments.
The North African country recently signed an agreement to join the blockchain-based payments network RippleNet to implement remittance payments.
The well-attended signing ceremony, which included the Chairman of the Bank Hisham Okasha and the Vice Chairman of the Board Dalia El-Baz, will be beneficial to both parties in so many ways. While the new deal will satisfy Ripple’s ambition of being the leading name in the blockchain money transaction, it will also place Egypt as one of the few African countries equipped with the platform that allows for an easy and seamless remittance payment on the continent.