MoneyGram Unveils Real-Time P2P Payment Solution to Vietnam with Visa Direct

MoneyGram International, Inc., a major global remittance company, and Visa recently announced the launch of a real-time peer-to-peer (P2P) payment solution to Vietnam.

As detailed in the official announcement, with the integration in the partnership between MoneyGram, Visa, Sacombank and other banks across the country, customers will be able to transfer from the United States, United Kingdom and 18 European countries to Vietnam quickly and securely via Visa Direct. 

Additionally, consumers can also transfer money digitally through the MoneyGram mobile app or website. The fund will arrive almost instantly to any Visa cardholder located in Vietnam. Customers can now transfer up to 2,500 USD per transaction and 10,000 USD per day. From now until June 30, 2021, consumers can send money to a Visa debit card in Vietnam without incurring a transfer fee.

Grant Lines, Global Chief Revenue Officer at MoneyGram, remarked:"We've already hit the ground running in 2021, and this latest integration with Visa Direct further improves our leading customer experience and will help execute our strategy to scale digital growth in one of the largest remittance markets in the world. We've built a modern, mobile, and API-driven company that has enabled MoneyGram to become the preferred partner for cross-border transfers, and we're excited to continue to expand our real-time transfer capabilities with Visa Direct."

"Our digital solution will enable MoneyGram consumers to quickly and conveniently receive money directly into their bank accounts via Visa Direct. Cardholders can use any Visa debit or prepaid card to receive cross-border payments via Visa's real-time push payment solution. This partnership with MoneyGram will support Vietnam's economic growth and streamline the remittance transferring process, which is vital to our customers' digital experience and helps introduce our innovations to consumers," added Madame Dang Tuyet Dung, Country Manager at Visa Vietnam and Laos.