OzForex signs agreement with MoneyGram

John Kavanagh
Two months after signing a white label deal with Travelex, foreign exchange provider OzForex has signed an agreement with global money transfer company MoneyGram.

MoneyGram specialises in providing cash-to-cash transfer services. It will use OzForex's payments platform to offer an account-to-account transfer service in Australia and New Zealand.

The service will be available on personal computer and mobile devices.

In April, OzForex announced that it had won a contract to build an online international payments platform for Travelex in Australia.

OzForex operates a foreign exchange service under its own name, but, in recent times, its growth has come from white label deals. It provides services to Macquarie Private Wealth and to ING Direct.