MoneyGram Partners with myZoi to Advance Financial Inclusion and Expand Digital Remittances in the UAE
Dubai, 29 October 2025 – In a significant step for the UAE’s fintech and remittance sector, MoneyGram and UAE-based fintech myZoi have announced a strategic partnership aimed at broadening digital financial access and reducing remittance costs for underserved communities in the country. The collaboration draws on MoneyGram’s global payments infrastructure and myZoi’s locally-licensed inclusive digital wallet to deliver faster, more affordable cross-border transfers.
Key Details of the Partnership
- The arrangement integrates MoneyGram’s global network of more than 200 countries and territories — and upwards of five billion digital endpoints — into myZoi’s platform, enabling myZoi wallet users to send money reliably to MoneyGram’s expansive footprint.
- myZoi brings a digital wallet solution that is licensed in the UAE, with a purpose-driven model targeting the under-banked workforce. Features include a “one-to-many” transfer function, allowing users to remit to up to five beneficiaries for the cost of one transaction.
- The partnership is aligned with several United Nation Sustainable Development Goals (SDGs), including financial inclusion, decent work, and reduced inequalities — highlighting the social impact dimension.
Why It Matters
- For the UAE, the linkage strengthens its position as a fintech hub and remittance gateway. With a large expatriate workforce sending money home, the partnership offers more choice and lower cost for cross-border transfers.
- For the under-banked and migrant worker segment, access to an inclusive, multi-lingual wallet and global transfer network offers practicality and affordability, driving financial resilience and inclusion.
- For both companies, MoneyGram gains a strategic partner for the Gulf region with localization credentials, while myZoi gets access to a global payments backbone, enhancing its service offering and reach.
What to Watch
- Roll-out speed & adoption: The effectiveness of the partnership will depend on how quickly the integrated services are made available, how many users adopt the platform and how seamless the cross-border experience is in practice.
- Cost & user experience: Lower fees, faster transfers and easy onboarding will determine whether the solution outpaces alternative remittance channels in the UAE and Gulf region.
- Regulatory & compliance safeguards: With cross-border transfers and wallet services involved, maintaining AML (anti-money laundering), KYC (know-your-customer), and data-protection standards will be critical for trust and scalability.
- Competitive dynamics: The UAE remittance and fintech space is competitive, with other digital wallets and global payments firms vying for similar segments; differentiation will matter.
Outlook
This partnership marks a meaningful step toward the UAE’s broader digital-payments and financial-inclusion agenda. By combining a localized platform with global rails, the collaboration has the potential to reshape how workers and expatriates in the UAE send money and access financial tools. If executed well, the initiative may also catalyse further innovation in inclusive fintech services, payroll digitisation and regional remittance flows.
