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Paytm Payments Bank and MoneyGram partner to offer international remittance directly to Paytm Wallet

News Desk, News Nation 360: India’s homegrown Paytm Payments Bank and MoneyGram International, Inc. (NASDAQ: MGI), the global leader in the evolution of digital P2P payments, today announced a partnership to enable MoneyGram customers globally to send money in real-time to a Paytm Wallet user in India. This is an important milestone in the digitization of the Global Receive Network. With this partnership, MoneyGram users abroad can now conveniently transfer money to full KYC Paytm wallet users in India from the comfort of their homes. Paytm Payments Bank has millions of wallet customers, who use the Paytm Wallet for its convenience including having greater control over their expenses, highly secure payments, fast forward on utility bill payments, and seamless integration across mobile, online and in-store payments and so much more. Alex Holmes, MoneyGram Chairman and CEO stated that the digitization of their receive network is a core component of their growth strategy which has led to exceptional results, such as an all-time high in their total transactions received digitally in the third quarter of this year. As consumer preference in India and beyond shifts toward receiving transfers digitally, MoneyGram is well-positioned to continue to meet demand. According to Satish Kumar Gupta, MD & CEO – Paytm Payments Bank Ltd, they always strive to empower Indians with seamless, digital banking services, and offer a direct transfer of international remittances into the Paytm Wallet, which is another step in the same direction. Paytm Wallet is used by millions of Indians and they hope that this partnership will offer unmatched convenience & flexibility to the Indian diaspora across the world to send money home in real-time. 

Report : Anustup Kundu