CreditCare Tech Partners with Moneygram International, Expands Trusted Service at 12,000 More Locations And to Nigeria
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Creditcare Technology, an innovative, multinational consumer finance company, today announced that they have partnered with MoneyGram International, Inc., a global leader in the evolution of digital P2P payments, to expand further into the emerging markets of the Philippines, Vietnam, and, now Nigeria with Moneygram.
CreditCare provides formal, innovative financial products, including personal loans and remittances, to the unbanked population, with a fully digital experience or at CreditCare’s 35,000 brick-and-mortar locations.
The spokesperson at CreditCare Technology stated, “The partnership with MoneyGram is a significant milestone in our mission to bring inclusive financial services to users in emerging markets. We believe financial services should be easy, low-cost, and accessible to not just 10% of the population. The CreditCare and MoneyGram partnership provides greater access, security, and simplicity for people to remit funds and get access to lines of credit.”
Rolled out in January 2019, thousands of customers immediately responded to obtain low-cost, affordable lines of credit. After two years of repeated rejections by financial regulators, Founder Julia G. Ko through hard work and persistence, secured non-depository bank licenses valid for 50 years in the Philippines and Vietnam. There are just six compelling competitors to service 105 million people per country market due to strong financial regulation and oversight.
With regulatory approval, Ko was able to integrate with a network of infrastructure consisting of 20,000+ physical locations, operated by SoftBank subsidiaries, to service consumers. This includes convenient physical locations like 7-11 stores, SM Mall, Robison’s Groceries, and BDO Banks. CreditCare is further expanding to an additional 12,000 locations with Moneygram International, and now, into Nigeria utilizing Moneygram’s backend infrastructure and 9 partner banks.
Founder, Julia G. Ko was driven to build the fintech…
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