Lightnet Expands Payout Services Across Southeast Asia Through Collaboration With MoneyGram

SINGAPORE, Feb. 10, 2021 /PRNewswire/ -- Lightnet Pte. Ltd. (Lightnet), a Singapore-headquartered fintech company, today launched a collaboration with MoneyGram International Inc. (MoneyGram), a global leader in cross-border P2P payments and money transfers. The successful integration and implementation of Lightnet's technology with MoneyGram's money transfer services provides customers with a wide selection of payout services across South East Asia.

This collaboration centers around Bridgenet, Lightnet's first-layer solution, which connects Money Transfer Operators (MTOs) to MoneyGram's money transfer services. Bridgenet creates true interoperability between existing banking rails and non-bank agent networks, while bridging the gap between different entities thereby enabling companies to deliver excellent services to their users.

Suvicha Sudchai, Chief Product Officer of Lightnet, said, "Through Bridgenet, Lightnet helps provide an even wider selection of payout services across Southeast Asia to MoneyGram's customers via MoneyGram's participating Money Transfer Operators."

"The success of this collaoration reflects Lightnet's commitment towards improving the efficiency, convenience, affordability and accessibility of cross-border remittances. Lightnet is working tirelessly to make these kinds of services available to everyone," added Tridbodi Arunanondchai, Group CEO and Vice Chairman of Lightnet.

Chatchaval Jiaravanon, Chairman of Lightnet, said, "This successful integration is a reflection of Lightnet's mission to promote financial mobility and inclusivity for the unbanked and underbanked populations of Asia. As we continue to empower institutions such as MoneyGram, we strive toward our vision of connecting all cash-in and cash-out points under one network, thereby enabling our partners to enjoy better margins and reduced costs."

As a global leader in cross-border P2P payments and money transfers, MoneyGram's consumer-centric capabilities enable family and friends to quickly and affordably send money in more than 200 countries and territories, with 89 now digitally enabled.

"We are proud to work with Lightnet to increase financial inclusion and provide our customers with the best options for money transfer in ASEAN. We love to collaborate with companies whose visions align with ours, and we look forward to a continued successful collaboration with Lightnet," said Grant Lines, Chief Revenue Officer at MoneyGram.

About Lightnet Pte. Ltd.

Lightnet Pte. Ltd. (Lightnet) is a Singapore-headquartered fintech company with the mission of promoting financial mobility and inclusivity. Lightnet empowers unbanked populations and SME trade finance with an inclusive international remittance ecosystem. Lightnet's international remittance ecosystem positions itself as the premiere clearing and settlement network for the Asia Pacific region by connecting existing financial systems with its network of cash agents and wallets.

www.lightnet.io

About MoneyGram International, Inc.

MoneyGram is a global leader in cross-border P2P payments and money transfers. Its consumer-centric capabilities enable family and friends to quickly and affordably send money in more than 200 countries and territories, with 89 now digitally enabled.

MoneyGram leverages its modern, mobile, and API-driven platform and collaborates with the world's leading brands to serve millions of people each year through both its walk-in business and its direct-to-consumer digital business.

With a strong culture of innovation and a relentless focus on utilizing technology to deliver the world's best customer experience, MoneyGram is leading the evolution of digital P2P payments.

For more information, please visit MoneyGram.com and follow @MoneyGram.

SOURCE Lightnet Pte. Ltd.

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