Telecommunications company CellPay has partnered with American financial services company MoneyGram to expand bill payment alternatives for customers across the US.
Under the partnership, MoneyGram customers can gain access to more bill payment alternatives via retail and digital channels to expand the firm’s footprint to over 30,000 billers.
CellPay said that the strategic alliance, expected to live for consumers in Q1 2023, will further accelerate the growth of both businesses in the bill payment industry.
Through its robust API-driven infrastructure and advanced technology, MoneyGram is effectively increasing the number of bill payments it processes.
By obtaining access to more than 25,000 MoneyGram retail locations across the US, CellPay will provide its consumers with more options. It will also give access to MoneyGram Online, the Company’s website, and mobile app.
CellPay Chairman and CEO Parvez Jasani said: “We’re excited to partner with MoneyGram and provide the company’s extensive consumer base with new bill payment options.
“This will lead to new revenue streams for both companies and expand MoneyGram’s bill payment footprint to be much larger than its competitors.”
CellPay, in early 2022, teamed up with Klarna to offer Klarna’s “pay-in-4” option to customers purchasing prepaid cellphone minutes from CellPay.
The firm offers comprehensive individual and B2B solutions to a consumer base through its easy-to-use customer portal. Its electronic distribution method gives retailers a combination of unlimited supply coupled with no inventory costs.
MoneyGram uses its modern, mobile, and API-driven platform and partners with brands to serve consumers through its direct-to-consumer digital channel, global retail network, and embedded finance business for enterprise customers.
In February this year, MoneyGram signed a definitive agreement to be acquired by private equity firm Madison Dearborn Partners (MDP).
MDP acquired all outstanding shares of MoneyGram for $11 per share in an all-cash transaction valued at around $1.8bn.