Partnerships / Acquisitions

Walmart And MoneyGram Join Forces For Online Money Transfer

The world’s largest retailer has paired up with MoneyGram to take on online funds transfers. MoneyGram and Walmart are collaborating on a “state-of-the-art” online money transfer platform that both introduces new capabilities and streamlines prior offerings.

“We are pleased to be a part of this exciting opportunity to help Walmart deliver a true omnichannel experience. For nearly 20 years, MoneyGram and Walmart have worked together to provide our customers with the highest quality and most convenient financial services,” said Juan Agualimpia, MoneyGram’s chief marketing officer and Walmart senior leader. “This new offering is a testament to our combined commitment to our customers.”

The Walmart/MoneyGram platform is built on MoneyGram’s new MTaaS (Money Transfer-as-a-Service) platform.

Using MTaaS is very similar to working with MoneyGram on its own site — but now with third-party input through a co-branded experience.

“We are pleased to build upon the investments we are making to [innovate our] online capabilities,” said Alex Hoffmann, MoneyGram’s chief product officer. “MTaaS offers a third-party solution to our strategic business partners looking for a powerful online site to connect with customers that can also be branded and updated easily.”

Customers tapping into the platform will have the option of sending funds or using the newly created “Track a Transfer” tool, which allows users to “follow” their money’s journey from MoneyGram’s estimated 350,000 locations to its destination.

“Improving the customer experience to save time, as well as money, is a priority for Walmart,” said Kirsty Ward, senior director of financial services at Walmart U.S. “This new digital experience for MoneyGram transfers at Walmart.com is another example of delivering seamless solutions for customers wherever they choose to shop.”

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