MoneyGram and Enjaz Partner to Expand Cross-Border Payments in Saudi Arabia
Together, MoneyGram and Enjaz are strengthening their ability to deliver faster, more seamless cross-border payment solutions for millions of customers across both retail and digital channels.
MoneyGram , a leading global payments network for consumers, businesses, and communities, has signed a Memorandum of Understanding (MoU) with Enjaz Payment Services , one of Saudi Arabia’s largest remittance-focused fintech companies. The announcement was unveiled during the inaugural edition of Money20/20 Middle East, the premier platform for the fintech and financial community.
Through this collaboration, Enjaz will integrate MoneyGram’s global payments network infrastructure into its nationwide retail and digital channels, including the Enjaz Pay App, enabling millions of consumers in Saudi Arabia to send money quickly and reliably. Customers will gain access to more than five billion digital endpoints and over 480,000 MoneyGram locations across more than 200 countries and territories.
“As one of the world’s leading cross-border payment networks, MoneyGram combines global scale with innovation. This partnership with Enjaz ensures that our global financial solutions are delivered with the local strength and the trust that Enjaz holds in the Saudi market. Together, we are reinforcing financial inclusion, advancing digital payments and driving innovation. MoneyGram is proud to serve as a key enabler of cross-border payments in the Kingdom.”
– Ahmed Aly, Head of Middle East, South Asia & Asia Pacific, MoneyGram
Enjaz, recognized as one of the largest fintechs in Saudi Arabia and a top remittance player both regionally and globally, offers advanced digital services and operates over 140 retail outlets across the Kingdom. The company continues to expand its ecosystem through strategic collaborations with leading financial institutions.
“At Enjaz, we are committed to delivering innovative and customer-focused financial services that address the evolving needs of our communities. Partnering with MoneyGram strengthens our portfolio and expands our customers’ access to a globally trusted payments network, further enhancing our international reach and service capabilities. This collaboration reflects our commitment to continually innovating and expanding financial solutions that empower our customers and communities.”
– Bassam AlEidy, Chief Executive Officer, Enjaz
Saudi Arabia is one of the largest remittance markets globally, with millions of expatriates sending funds home every month. By combining Enjaz’s strong local presence with MoneyGram’s global reach, the partnership not only sets a new benchmark for reliability and customer experience – it underscores the Kingdom’s growing role as a leading regional fintech hub.
Together, MoneyGram and Enjaz are strengthening their ability to deliver faster, more seamless cross-border payment solutions for millions of customers across both retail and digital channels.
