09/06/2022, San Francisco, California // PRODIGY: Feature Story //
Creditcare technologyan innovative, multinational consumer finance company, today announced its partnership with MoneyGram International, Inc., a global leader in developing P2P digital payments, to further expand 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.
A CreditCare Technology spokesperson said, “The partnership with MoneyGram is a significant milestone in our mission to provide comprehensive financial services to users in emerging markets. We believe that financial services should be easy, affordable and not just accessible to 10% of the population. The CreditCare and MoneyGram partnership offers people more access, security and ease in transferring funds and accessing lines of credit.”
Launched in January 2019, thousands of customers responded immediately for low-cost, affordable lines of credit. After two years of repeated rejection by financial regulators, founder Julia G. Ko, through hard work and perseverance, secured 50-year non-deposit banking licenses in the Philippines and Vietnam. Due to strict financial regulation and oversight, there are only six credible competitors serving 105 million people per country.
With regulatory approval, Ko has been able to integrate with an infrastructure network consisting of more than 20,000 physical locations operated by SoftBank affiliates to serve consumers. These include convenient physical locations such as 7-11 Stores, SM Mall, Robison’s Groceries and BDO Banks. CreditCare continues to expand to an additional 12,000 locations with Moneygram International and now Nigeria, leveraging Moneygram’s backend infrastructure and 9 partners…
