EbixCash: Partnership with MoneyGram
- EbixCash has a network of about 320,000 franchises across the country. This deal is all about providing MoneyGram access to that
- All the new agents will be sub-agents when the company grows, as MoneyGram brings in $3 billion into India
- EbixCash will be handling all the cash with through its franchise network across the country
- For MoneyGram they get access to the vast network of EbixCash allowing it to sign larger deals because it is a destination-end
- The strategic partnership aims to service inward remittance volumes of $3 billion annually by targeting remitters in key sending markets outside India
- MoneyGram is focusing on diversification by investing in both its digital business and in key international markets such as India
