HANOI, Vietnam, Nov 2020 /PRNewswire/ -- MoneyGram International, Inc. (NASDAQ: MGI), a global leader in cross-border P2P payments and money transfers, today announced a contract renewal with Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) for the next five years due to the ongoing success of the partnership. With this extension, sending and receiving money globally service of MoneyGram will be served at more than 600 transaction offices of Vietcombank nationally.
"We are very pleased to renew the partnership agreement that enhances our relationship with MoneyGram. Through the successful 15-year partnership with MoneyGram, we have been providing customers with global quality services, commensurate with the position of Vietcombank and MoneyGram,” said Madam Nguyen Thi Kim Oanh, Deputy General Director of Vietcombank.
Back in 2005, Vietcombank is the first Vietnamese bank signed 3-year contract with MoneyGram. As the first bank providing MoneyGram’s service and Vietcombank’s reputation among Vietnamese living aboard, our partnership assist billions of people sending money to Vietnam via more than 350.000 agents of MoneyGram in 200 countries and territories worldwide. Customers in Vietnam – the receivers – can pick up money easily at any Vietcombank offices nationally.
On the other side, our partnership enables customers to send money from Vietnam around the world to support diverse purposes such as education, health, and other aspects for life’s daily needs easily and safely. Foreigners living and working in Vietnam can send money back to their home without any difficulty.
"We are extremely happy to extend the partnership with Vietcombank. This new contract has a term of up to 5 years instead of 3 years as the previous times, which is a testament to the strength of a shared commitment MoneyGram and Vietcombank have to each other, and most importantly, to our customers. We are excited to continue our partnership and explore new avenues of growth together,” said Anil Kapur, Head of Asia Pacific for MoneyGram.
Remittances are very important to many countries around the world, especially in developing countries. According to the State Committee for Overseas Vietnamese, there are currently 4.5 million Vietnamese spread across 110 countries and territories, 80% of which are living in developed countries, 500.000 are experts. Statistics from the World Bank show that remittances to Vietnam have grown steadily over the last 10 years, reaching 16,7 billion USD in 2019, which puts Vietnam into the top 10 countries receiving remittances worldwide.
About MoneyGram International, Inc.
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 81 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.
About Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank)
With nearly 60-year experience in banking, Vietcombank is currently the leading commercial bank in Vietnam with the total assets of 50 billion USD and the highest market capitalization of credit institutions listed on Vietnam's stock market. Vietcombank currently has over 20.000 employees with a wide network of operations throughout Vietnam including its Head Office in Hanoi and about 600 branches and transaction offices nationwide.
Vietcombank's strategic goal to 2025 and vision to 2030 is to firmly consolidate the No. 1 position in Vietnam, standing among the 100 largest banks in Asia, one of the 300 largest banking and financial groups in the world, one of the 1000 largest listed companies globally, contributes positively to the development of Vietnam.
For more information, please access: http://portal.vietcombank.com.vn/
Please contact for more information
Mr. Nguyen Huu Kien
Deputy Director of Public Relation of Vietcombank
Tel: (024) 39343137 (extention:1966)
Mr. Vijay Raj Poduval
Regional Head Southeast Asia
Tel: (091) 98860 28870