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MoneyGram (NYSE:MGI), a leading global money transfer company, announced today it is entering Qatar through a multi-year agreement with Qtel, the country’s leading mobile operator, to offer international mobile money transfer services. The collaboration between Qtel, a leading international communications company with a significant presence in the MENA region and Southeast Asia, enables a global scale remittance offering available from customers’ mobile wallets.
Under the agreement, Qtel customers will be able to register for the Qtel Mobile Money service at any Qtel shop or directly from their mobile phones and send funds that can be picked up at any of MoneyGram’s 284,000 global locations in 197 countries.
This relationship also gives thousands of customers in Qatar who do not have a bank account or use traditional banking services the ability to send money using a mobile device internationally in a secure, convenient and reliable method 24 hours a day, 365 days a year. Transfer of the money is almost instantaneous with the Qtel Mobile Money service, and recipients can collect the cash safely and reliably from MoneyGram local agents.
“Our mobile service provides security, convenience and global reach that extend these benefits to all our customers, including those who do not have a bank account,” said Waleed Al Sayed, chief operating officer, Qtel. “Our collaboration with MoneyGram is a critically-important step that reinforces and demonstrates Qtel’s commitment to service and innovation. With a growing number of foreign workers working on critical projects in Qatar, there is an increasing need for individuals to be able to transfer money home safely and conveniently.”
“MoneyGram continually looks for opportunities to leverage new technologies that will enhance our customer experience and connect with more customers in the remittance industry,” said Richard Meredith, senior regional director, Middle East, MoneyGram. “We know that in Qatar, the mobile wallet industry continues to grow. Our collaboration with Qtel is an important move for us as we continue to monitor for new ways to serve customers in the Middle East region.”