UAE’s myZoi Partners With MoneyGram To Boost Financial Inclusion

myZoi, a UAE-based fintech focused on the underbanked, has announced a strategic partnership with global payments network MoneyGram. The collaboration aims to drive financial inclusion across the UAE by integrating MoneyGram’s global money transfer infrastructure into myZoi’s digital wallet, expanding access to low-cost, digital-first remittance options for underserved communities.

Integrating a Global Payments Network

Through this partnership, myZoi will leverage MoneyGram’s extensive network, enabling its customers to send money quickly and reliably to over five billion digital endpoints and nearly 500,000 physical locations across more than 200 countries and territories. This integration combines myZoi’s purpose-driven technology with MoneyGram’s omni-channel capabilities, significantly scaling the fintech’s impact and reach. Ahmed Aly, Head of Middle East, South Asia & Asia Pacific at MoneyGram, noted that the partnership empowers innovative fintechs like myZoi to ensure individuals can stay connected with their families in fast and affordable ways.

Innovating for the Underbanked

Backed by SC Ventures, myZoi is licensed by the Central Bank of the UAE and has introduced the country’s first inclusive digital wallet. A key feature is its innovative “One-To-Many” remittance functionality, which allows users to send money to up to five recipients for the cost of a single transfer. To ensure broad accessibility, the app is available in multiple languages catering to diverse worker communities. The platform also includes a gamified financial literacy program called “Money Tips,” designed to help users learn about budgeting, responsible spending, and financial safety. Syed Muhammad Ali, CEO of myZoi, stated that the partnership with MoneyGram helps the company realize its goal of making remittances more accessible and impactful.

A Mission of Financial Empowerment

The collaboration marks a significant step in extending affordable digital financial services to communities that have traditionally been underserved by the financial system. Both companies highlighted their commitment to advancing financial inclusion in the region, with the initiative aligning with six of the United Nations’ Sustainable Development Goals. By promoting financial empowerment through technology and education, the partnership aims to create measurable social impact.

About myZoi

myZoi is a UAE-headquartered fintech committed to promoting the financial inclusion of every underbanked individual globally. A wholly owned subsidiary of Standard Chartered Group and backed by SC Ventures, myZoi focuses on providing tailored financial services to elevate the living standards of its users.

Source: Zawya