MobilityOne Limited Money Transfer Agreement with MoneyGram (7807T)
22 Julio 2020 - 6:00AM
UK Regulatory
TIDMMBO
RNS Number : 7807T
MobilityOne Limited
22 July 2020
22 July 2020
MobilityOne Limited
("MobilityOne", the "Company" or the "Group")
Money Transfer Agreement with MoneyGram Payment Systems,
Inc.
MobilityOne (AIM: MBO), the e-commerce infrastructure payment
solutions and platform provider, announces that its 50%-owned
remittance company, OneTransfer Remittance Sdn Bhd ("OTR"), has
signed an international money transfer agreement with MoneyGram
Payment Systems, Inc. ("MoneyGram") to act as one of MoneyGram's
correspondence remittance companies in Malaysia for an initial term
of 5 years (the "Agreement").
MoneyGram, the main subsidiary of MoneyGram International, Inc.
(USA), provides money transfer and payment services worldwide .
MoneyGram is a global leader in money transfers headquartered in
Dallas, USA.
The Agreement will enable the customers of OTR to send and
receive money via MoneyGram's global platform which connects to
more than 200 countries worldwide. Previously OTR's customers were
restricted in being able to send money to less than 10 countries
across Asia. Under the Agreement, OTR will be entitled to a share
of the fees generated by MoneyGram on money transfer transactions
as well as a share of MoneyGram's foreign exchange profits realised
on transactions via OTR.
Dato' Hussian A Rahman, CEO of MobilityOne, commented: "We are
excited to be part of MoneyGram's network as we believe this will
help to expand OTR's business in Malaysia with the prestigious
MoneyGram brand. "
-ends
For further information, contact:
MobilityOne Limited +6 03 89963600
Dato' Hussian A. Rahman, CEO www.mobilityone.com.my
har@mobilityone.com.my
Allenby Capital Limited (Nominated Adviser and Broker) +44 20 3328 5656
Nick Athanas / James Hornigold
About MoneyGram
MoneyGram is a global leader in cross-border P2P payments and
money transfers. Its consumer-centric capabilities enable family
and friends to quickly and affordably send money in more than 200
countries and territories, with over 70 countries now digitally
enabled.
MoneyGram leverages its modern, mobile, and API-driven platform
and collaborates with the world's leading brands to serve millions
of people each year through both its walk-in business and its
direct-to-consumer digital business.
With a strong culture of innovation and a relentless focus on
utilizing technology to deliver the world's best customer
experience, MoneyGram is leading the evolution of digital P2P
payments.
For more information, please visit moneygram.com .
About OTR
OTR is incorporated in Malaysia and provides international
remittance services in Malaysia. It currently holds a remittance
business license issued by the Central Bank of Malaysia and has 6
outlets in Malaysia.
It currently offers physical outlets and soon will provide
mobile application-based remittance services.
About MobilityOne Group
MobilityOne provides e-commerce infrastructure payment solutions
and platforms through its proprietary technology solutions. The
Group has developed an end-to-end e-commerce solution which
connects various service providers across several industries such
as banking, telecommunication and transportation through multiple
distribution devices including EDC terminals, mobile devices,
automated teller machines (ATM) and internet banking. The Group's
technology platform is flexible, scalable and designed to
facilitate cash, debit card and credit card transactions from
multiple devices while controlling and monitoring the distribution
of different products and services.
For more information, refer to our website at
www.mobilityone.com.my
This information is provided by RNS, the news service of the
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of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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