ATLANTA, May 14, 2020 /PRNewswire/ -- KyckGlobal announced an expansion of its partnership with MoneyGram International, a global leader in cross-border P2P payments and money transfers to now serve over 120 countries. The majority of the newly-served countries are located in eastern and western Europe where many consumers prefer to receive payments in cash.
KyckGlobal operates an outbound payments platform featuring a broad array of payment types, all of which originate from a single point of reconciliation. The MoneyGram cash payout service is one of the most popular payment types available from the KyckGlobal's cloud-based platform. Payees receive a code from the platform via text message or email and can receive their money in minutes by going to any MoneyGram walk-in location across its global distribution network.
"While we've recently seen a significant level of innovation in digital cross-border B:C disbursements spanning RTP (Real Time Payments) and Push Debit (Visa Direct), consumer demand for cash seems to have been greatly overlooked," said Ashish Bahl, CEO and founder of KyckGlobal. "For companies seeking to make hassle-free cross-border payments to consumers with no card product or local bank account, MoneyGram's 'cash-as-a-service' offering is a compelling solution."
"We're excited about the expansion of our partnership with KyckGlobal as we continue to expand the types of cross-border payment use cases that can leverage our API-driven platform to provide access to our global distribution network," said Jay Hambley, Head of Payments for MoneyGram International.
The expanded service is expected to be live in the new countries in the second quarter of 2020.
About KyckGlobal, Inc.
KyckGlobal delivers streamlined outbound B:C payments to accelerate business, featuring a cloud-based platform with a growing array of today's most popular payment types from a single point of reconciliation. The KyckGlobal solution improves the customer experience with more inclusive payment types and various options for faster payments. For corporates, the solution reduces overhead and automates workflows and reporting, while engaging workers as to how and when they get paid. By allowing payers to issue one-time and recurring payments from one integrated platform, KyckGlobal is transforming how business gets done in the key verticals of specialty consumer finance, marketplaces and staffing, claims and appeasements, and multi-level marketing, among others. Visit kyckglobal.com and @KyckGlobal for more info.
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 more than 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 and follow @MoneyGram.