American retail giant Walmart has decided to extend its partnership with Ripple's main partner, MoneyGram. The two-year partnership between Walmart and MoneyGram is planned to be extended until 2024. According to a press release, the two companies will continue to work on the Walmart2World money transfer service.
Walmart-2-Walmart is a service for the American population without access to banking services. The service was first launched in 2014 and is provided to clients using the MoneyGram infrastructure. With its help, it was possible to reduce the transaction fee by about 50%. Now Walmart has decided to provide a similar service not only inside the US but also outside the country.
In 2018, a new international Walmart platform was launched – Walmart2World. This allowed US users to make payments to over 200 countries using MoneyGram infrastructure. According to Alex HOLMES, CEO of MoneyGram, customer-oriented strategies will evolve with the new partnership decision. Walmart's desire to use this service for another three years is proof of interest in the services provided.
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