To meet the growing demand for money transfer services, MoneyGram recently expanded its network in Japan with locations providing greater coverage of key prefectures, including Tokyo, Saitama, Ibaraki and Tochigi.
"Japan is a significant send market in the Asia Pacific region and one of the key countries for MoneyGram," said Yogesh Sangle, MoneyGram's head of Asia Pacific. "The agreement with City Express, one of the fastest growing remittance companies in Japan, reinforces our strategy to bring more convenient options to our customers to send or receive funds whether in cash or directly to their bank account."
"With MoneyGram we can offer our customers a money transfer service that is fast and reliable. This collaboration demonstrates our commitment to offer our customers the right partner to send funds to their loved ones around the globe," said Mahesh Kumar Shrestha, President and CEO of City Express Money Transfer Japan.
According to the World Bank, over US$8.8 billion in remittances flowed out of Japan in 2016 mainly to China (US$4.1 billion), South Korea (US$1.7 billion), and the Philippines (US$1 billion).