MoneyGram and MoneyGram Haas F1 Team Unveil 2023 Car in Bahrain


MoneyGram International, Inc. (NASDAQ: MGI) (“MoneyGram” or the “Company”) and MoneyGram Haas F1 Team today unveiled the VF-23, the car that that the team will take to the track to compete in the 2023 season of the FIA Formula One (F1) World Championship. The car was revealed this morning at pre-season testing in Bahrain, ahead of the season’s commencement at the Bahrain Grand Prix next weekend.

Delivering on its promise to provide fans with unique access to the sport, MoneyGram and urpay, one of the Company’s key partners in the Middle East, hosted a joint customer to unveil the new car alongside MoneyGram Haas F1 Team drivers, Kevin Magnussen and Nico Hülkenberg. Through this reveal, the customer, Nawaf Alqahtani, became one of the first MoneyGram Haas F1 Team fans to see the car in-person.

“Collaborating with urpay to create this incredible experience for one of our customers was really exciting for us,” said Greg Hall, MoneyGram Chief Marketing Officer. “We are dedicated to remaining customer-centric, putting our customers at the heart of everything that we do, and events like these are a huge part of what we are looking to achieve through our title partnership of MoneyGram Haas F1 Team.”

In December of 2021, MoneyGram and urpay, a digital wallet powered by neoleap, partnered to provide urpay’s millions of wallet users the ability to send money around the world. As mobile money adoption grows rapidly in the Middle East, this new capability within the urpay app has scaled exponentially across the region in the past year.

“I can officially say I’m a lifelong fan of MoneyGram Haas F1 Team and the sport of F1 after today’s unforgettable experience with MoneyGram and urpay,” said Nawaf Alqahtani, MoneyGram and urpay customer. “I use MoneyGram’s leading cross-border payment services through the urpay app to send money to support family and friends around the world. The platform is less expensive than what other providers offer, and it has an easy digital user experience which saves me the hassle of waiting in line at retail locations.”

Following the reveal moment, Nawaf Alqahtani took part in a meet-and-greet with the drivers and Guenther Steiner, Team Principal of MoneyGram Haas F1 Team. Watching the action right from the garage, Alqahtani was also able to tour the facility and take a closer look at the car and technical aspects that help run the team.

“We are delighted to have been involved in this incredible experience with MoneyGram,” said Ziyad Ahmed Al Eisa, neoleap Chief Executive Officer. “Through the exciting new partnership between MoneyGram and MoneyGram Haas F1 Team, we have been able to deliver a truly unique experience to a customer. F1 is such a popular sport, continuing to grow in this region and all around the world, so we are really excited to be a part of it.”

Looking ahead, MoneyGram and urpay will continue to promote their successful partnership at the upcoming Saudi Arabian Grand Prix in Jeddah, where the urpay logo will be featured on the MoneyGram Haas F1 Team cars.


Jingle Pay, the Financial Super-App, Announces a Strategic Partnership and a Minority Investment from MoneyGram


MoneyGram International, Inc., a global leader in the evolution of digital P2P payments, and Jingle Pay, a financial super-app based in the United Arab Emirates (UAE), today announced a partnership to enable convenient and fast global money transfers through the Jingle Pay app. Consumers in the UAE can use the Jingle Pay app – powered by MoneyGram’s global payment rails and near real-time capabilities – to send money to over 200 countries and territories around the world.

MoneyGram has also announced the completion of a minority investment in Jingle Pay. Alex Holmes, MoneyGram Chairman and CEO, has joined the Jingle Pay Board of Directors as Chairman to help guide Jingle Pay’s strategic path forward.

“As consumer preference increasingly shifts online, investing in digital startups around the world is a critical component of our strategy,” said Holmes. “We’re excited to partner with Jingle Pay, as we believe in their strategic vision to improve the key elements of traditional banking through its suite of innovative digital offerings. As the startup continues to grow, MoneyGram’s direct ownership in the company will strengthen our leading position in the Middle East and further accelerate our strategic goals to lead the evolution of digital payments.”

As a global trade hub, the UAE hosts nearly 9 million expatriates, constituting approximately 89% of the population and making the country a powerhouse for outbound remittances. With a focus on financial inclusion, Jingle Pay is targeting expats in the region and providing consumers with access to an extensive list of accessible financial services, such as its multi-currency card and money transfer services.

“Jingle Pay is the super-app transforming the daily financial lives of consumers seeking accessible, instant and innovative money services,” said Amir Fardghassemi, Founder and CEO of Jingle Pay. “Our partnership with MoneyGram extends our network of global remittance destinations and allows us to tap MoneyGram’s remittance clearing expertise. It gives our users global coverage and cost-effective rates. At Jingle Pay, we are committed to reinventing how people store, spend and send money, while furthering financial inclusion and low-cost remittance corridors.”

The Jingle Pay app is now live in the UAE.