MoneyGram Partners with myZoi to Boost Financial Inclusion in the UAE
Dubai, 29 October 2025 – In a significant advancement for digital financial services in the UAE, MoneyGram and UAE-based fintech myZoi have announced a strategic collaboration designed to accelerate financial inclusion among under-served migrant worker communities and low-income employees. This partnership leverages MoneyGram’s global payments network and myZoi’s inclusive digital wallet platform to enable more accessible, affordable and secure cross-border money transfers and digital payroll solutions.
What the Partnership Entails
- myZoi brings to the table a digital-wallet service already licensed under the UAE Central Bank’s “Stored Value Facilities (SVF)” and “Retail Payment Services & Card Schemes (RPSCS)” categories.
- The collaboration will enable myZoi-wallet users to tap into MoneyGram’s network of more than 200 countries and territories, and more than five billion digital endpoints globally, giving users of the myZoi wallet enhanced cross-border transfer reach via MoneyGram’s rails.
- The arrangement is aimed at lowering transaction costs for remittances and improving process efficiencies (for example, enabling one-to-many transfers – one user sending to up to five beneficiaries at once) and simplifying payroll disbursement for companies employing large numbers of migrant workers.
Why It Matters
- Financial inclusion & migrant workforce impact: The UAE hosts a large expatriate workforce, many of whom send remittances home and may lack access to fully-banked services. By integrating myZoi’s wallet with MoneyGram’s global network, the partnership aims to bring formal financial services to those previously excluded or underserved.
- Cost savings and digitalisation: Reducing remittance fees and increasing digital access helps both individual savers and employers. For employers, easier payroll and payment workflows can help improve efficiency and compliance.
- Strategic ecosystem building: The move reflects the UAE’s broader ambition to become a digital‐financial-services hub in the region, linking fintech innovation, global payments infrastructure and labour-market needs.
Key Considerations & Outlook
- Implementation & take-up: Success hinges on how quickly the wallet transfers become available at scale, how many users and corporate clients are onboarded, and how seamless the cross-border experience is in practice.
- Regulatory & compliance frameworks: Digital payments and remittances rely on solid regulation, anti-money-laundering controls, know-your-customer processes and compliance with cross-border payment standards. Both firms will need to maintain high standards.
- Competitive environment: The UAE and wider Gulf region are vibrant fintech markets; other providers and digital wallets will also be racing to capture migrant-remittance flows and payroll digitisation use-cases.
- Social impact tracking: Given the financial-inclusion aim, measuring actual impact (reduced fees, increased savings, improved financial literacy) will be critical to demonstrating long-term value beyond revenue growth.
Conclusion
This partnership between MoneyGram and myZoi represents a meaningful step in the UAE’s fintech and inclusion journey — combining global payments infrastructure with a locally-tailored wallet solution targeted at under-banked communities. If executed well, it may not only provide cost-effective cross-border transfers, but also help drive broader digital-financial-ecosystem upgrades, improve employer payroll modalities and raise financial-well-being for many migrant workers. For stakeholders in the UAE financial-services sector, this development warrants close attention as a bell-wether for how fintech-payments models evolve in the Gulf region.
