MoneyGram, a leading global payments network for consumers, businesses and communities, recently announced a strategic partnership with myZoi, a UAE-based fintech focused on financial inclusion and financial literacy for the underbanked. Through the integration of MoneyGramโs global money transfer infrastructure, myZoi enables its customers to send money quickly and reliably to more than five billion digital endpoints and nearly 500,000 MoneyGram locations across over 200 countries and territories.
By combining myZoiโs purpose-driven technology with MoneyGramโs global, omni-channel network, the partnership will broaden access to digital-first, low-cost remittance options. The collaboration marks a significant step in extending access to affordable digital financial services for underserved and underbanked communities, reinforcing both companiesโ commitment to advancing financial inclusion in the region. The initiative aligns with six of the United Nationsโ Sustainable Development Goals, creating measurable social impact and promoting financial empowerment.
โAs a global payments network, MoneyGram empowers innovative fintechs like myZoi to scale their impact, ensuring that millions of individuals can stay connected with their families in fast, reliable and affordable ways,โ said Ahmed Aly, Head of Middle East, South Asia & Asia Pacific at MoneyGram. โThis partnership represents a pivotal step in MoneyGramโs ongoing journey to broaden financial inclusion and expand access to digital-first financial services across the Middle East and beyond.โ
SC Ventures-backed myZoi is headquartered in the UAE and licensed by the Central Bank of the UAE. The company has introduced the UAEโs first inclusive digital wallet with its innovative One-To-Many remittance functionality, enabling users to send money home to up to five people for the cost of a single transfer. Available in multiple languages, the app ensures accessibility to diverse worker communities in the UAE. Its gamified financial literacy program, Money Tips, helps individuals learn budgeting, responsible spending and money safety. myZoi has recently launched its large-scale outdoor campaign โIf itโs not everyone, itโs not inclusionโ encouraging decision-makers to support employee wellness beyond payroll.
โAt myZoi, we strive to make remittances more accessible, affordable and impactful for underserved communities. By combining this with financial literacy and fair access to digital tools, we are helping our clients to better support their families. Partnering with MoneyGram allows us to realize these goals and reach more communities with innovative solutions that truly make a difference,โ said Syed Muhammad Ali, CEO of myZoi.
