Paytm Payments Bank tie-up with MoneyGram to enable international fund transfer

Paytm Payments Bank has partnered with MoneyGram, a peer-to-peer remittance company to enable international fund transfer directly to Paytm Wallet. Under the Partnership, MoneyGram users abroad can now transfer money to any full Know Your Customer (KYC)-compliant Paytm wallet. MoneyGram transactions in India received digitally stands at nearly 50 per cent of all transactions received in the country. This is MoneyGram’s first mobile wallet partnership in India.

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About the MoneyGram:

MoneyGram transactions in India received digitally currently represent nearly 50 per cent of all transactions received in the country. The number of transactions sent directly to bank accounts is up about six times from just under 10 per cent two short years ago.

Important takeaways for all competitive exams:

• Paytm Payments Bank Founded: 2015;
• Paytm Payments Bank Headquarters: Noida, UP;
• Paytm Payments Bank Founder & CEO:  Vijay Shekhar Sharma.

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