MoneyGram and Enjaz sign MoU at Money20/20 Middle East to advance cross-border payments in Saudi Arabia

Cairo, 16 sep 2025:

MoneyGram, a leading global payments network, has signed a Memorandum of Understanding (MoU) with Enjaz Payment Services, one of Saudi Arabia’s largest remittance-focused fintech companies. The announcement was made at the inaugural Money20/20 Middle East conference, the region’s premier fintech platform.

Through this partnership, Enjaz will integrate MoneyGram’s infrastructure into its nationwide retail and digital channels, including the Enjaz Pay App. Consequently, millions of consumers in Saudi Arabia can send money quickly and reliably. Furthermore, customers gain access to over five billion digital endpoints and more than 480,000 MoneyGram locations across 200+ countries and territories.

Enhancing Financial Inclusion and Innovation

Ahmed Aly, Head of Middle East, South Asia & Asia Pacific at MoneyGram, said: “MoneyGram combines global scale with innovation. Therefore, this partnership ensures that our financial solutions reach the Saudi market with the local strength and trust Enjaz provides.”

He added that the collaboration reinforces financial inclusion, advances digital payments, and drives innovation. Additionally, it positions MoneyGram as a key enabler of cross-border payments in the Kingdom.

Enjaz Expands Its Global and Local Capabilities

Enjaz operates more than 140 retail outlets in Saudi Arabia and provides advanced digital services. Moreover, the company continues expanding its ecosystem through strategic partnerships with leading financial institutions.

Bassam AlEidy, CEO at Enjaz, commented: “Partnering with MoneyGram strengthens our portfolio and extends our customers’ access to a trusted global payments network. As a result, this collaboration enhances our international reach and service capabilities.”

He emphasized that Enjaz remains committed to delivering innovative and customer-focused financial solutions. In addition, the partnership allows the company to meet the evolving needs of its communities effectively.

Saudi Arabia as a Leading Remittance and Fintech Hub

Saudi Arabia hosts one of the world’s largest remittance markets, with millions of expatriates sending funds home each month. By combining Enjaz’s strong local presence with MoneyGram’s global reach, the partnership not only improves reliability and customer experience but also highlights the Kingdom’s growing role as a regional fintech hub.

Overall, MoneyGram and Enjaz now provide faster, more seamless cross-border payment solutions for customers across both retail and digital channels, marking a significant milestone for financial innovation in the region.

Read More:

مذكرة تفاهم بين «MoneyGram» و«إنجاز» لتعزيز خدمات الحوالات المالية في السعودية

«فيزا» تشارك في جولة تمويلية بـ4.9 مليون دولار لمنصة مدفوعات العملات المستقرة «HoneyCoin»