"With 80% of our online transactions being made on a mobile device we are looking to provide even more options to our customers using our digital platforms," MoneyGram president and CEO Alex Holmes said in a Thursday press release. "Wing is at the forefront of mobile money and electronic payments, and this mobile wallet tool will serve as a valuable asset for the under-banked in Cambodia."
MoneyGram customers can remit and receive money through the Wing Money mobile app. Customers also have the option to cash out using any of 7,000 Wing cash express outlets in Cambodia.
"It's our commitment to provide every Cambodian with convenient access to mobile financial services, relevant to, and for the improvement of, their daily lives," Man Rajan, CEO of Wing, said in the release.
Wing views MoneyGram as an innovative company with an omnichannel strategy that "helps give these customers more choice," Rajan added.
The National Bank of Cambodia reported that funds sent back into the country from Cambodian migrant workers totaled $1.4 billion in 2018.
