Partnerships / Acquisitions

Ingo Money And MoneyGram Deliver Instant P2P Payments

Ingo Money, a player in real-time push payments technology, and MoneyGram, a global provider of money transfer and payment services, announced Monday (Oct. 17) an agreement to offer consumers a new service to make quick and convenient credit card payments through Ingo Money’s platform at any one of MoneyGram’s estimated 40,000 U.S. retail locations.

Ingo Money’s push payments technology enables banks, financial services providers and companies to move money instantly between businesses and people in mobile, online, ATM and retail channels with a single API integration, the companies said in a press release.

“MoneyGram is a trusted global consumer brand with a decades-long commitment to consumer financial access. We are pleased to enable MoneyGram to deliver this enhanced real-time payment service to its customers,” said Drew Edwards, founder and CEO of Ingo Money. “This collaboration expands our one-of-a-kind push payments network and enables consumers to originate instant, secure push payments in seconds, simply by swiping the card they wish to fund at any domestic MoneyGram retail location.”

Ingo Money processes push payments in minutes to virtually any bank debit card, prepaid card, bank-issued or private-label credit card, PayPal account or cash disbursement location with intelligent, multichannel routing, compliance controls and full-service settlement and servicing. Consumers can originate transactions in retail locations, ATMs and mobile apps, including the Ingo Money App, which enables consumers to cash a check with a national bank and receive the funds in minutes to any linked account. The service also enables instant B2P and P2P disbursements originated by banks, companies and government agencies.

“MoneyGram is committed to giving consumers an easier way to make payments,” said Pete Ohser, MoneyGram chief revenue officer for Americas and Europe. “Our alliance with Ingo Money will enable us to deliver a whole new level of convenience, speed and choice for paying credit card bills.”

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