Saudi Fintech tiqmo Partners with MoneyGram to Launch Global Remittance Service
tiqmo, a leading Saudi-based financial technology company and digital wallet, has announced a major strategic partnership with the global payments leader MoneyGram. This landmark deal enables tiqmo to integrate MoneyGram's international network, allowing its users in Saudi Arabia to send money globally directly from the tiqmo mobile app.
A Major Step for a Saudi Digital Wallet
This partnership marks a significant milestone for tiqmo, greatly enhancing the capabilities of its SAMA-licensed digital wallet. By adding a seamless and convenient international money transfer service, tiqmo is increasing its value proposition for users across the Kingdom, particularly for the large expatriate community that regularly sends remittances abroad. This move positions tiqmo as a more comprehensive financial platform within the competitive Saudi market.
Aligning with Saudi Vision 2030
tiqmo's integration of this global service is directly aligned with the goals of Saudi Arabia's Vision 2030 and its Financial Sector Development Program. As a homegrown Saudi fintech company, tiqmo is actively contributing to the national objectives of increasing financial inclusion and boosting the volume of digital, non-cash transactions throughout the Kingdom.
Leadership on Enhancing Local Services
Ayman Al-Sayer, CEO and Founder of tiqmo, emphasized the company's focus on its customers. "We are committed to providing our customers with the best services. Our partnership with a global leader like MoneyGram allows us to offer seamless and convenient international money transfer services, enhancing the value of our digital wallet for our users," he stated.
Supporting this view, Alex Holmes, Chairman and CEO of MoneyGram, praised tiqmo as an innovative partner. This collaboration validates tiqmo's strong position and technological capabilities, making it an attractive partner for global financial firms looking to expand their digital reach in the key Saudi market.
About tiqmo
tiqmo is a Saudi financial technology company that offers a secure and user-friendly digital wallet licensed by the Saudi Central Bank (SAMA). The platform provides a range of financial services designed to meet the needs of consumers in the Kingdom.
About MoneyGram
MoneyGram International, Inc. is a global leader in the evolution of digital peer-to-peer payments. The company serves millions of consumers in over 200 countries and territories, connecting them through its global platform for cross-border money transfers and payments.
Looking Ahead: The Growth of Saudi Fintech
This strategic partnership is a powerful demonstration of the growing maturity and influence of the Saudi fintech ecosystem. It showcases the ability of local Saudi companies like tiqmo to forge major international alliances, attract global leaders as partners, and deliver world-class services to the Saudi market, accelerating the nation's digital transformation journey.
Source: MEA Tech Watch