MoneyGram International, Inc., a leader in cross-border P2P payments and money transfers, and Visa, a leader in digital payments, launched a real-time peer-to-peer payment solution to Vietnam.

This integration in the partnership between MoneyGram, Visa, and banks across the country enables customers to transfer money from the U.S., U.K. and 18 European countries to Vietnam securely through Visa Direct, according to a press release. Consumers can transfer money digitally through the MoneyGram mobile app or website to arrive almost instantly to any Visa cardholder located in Vietnam.

"We've already hit the ground running in 2021, and this latest integration with Visa Direct further improves our leading customer experience and will help execute our strategy to scale digital growth in one of the largest remittance markets in the world," Grant Lines, global Chief Revenue Officer at MoneyGram said in the release. "We've built a modern, mobile, and API-driven company that has enabled MoneyGram to become the preferred partner for cross-border transfers and we're excited to continue to expand our real-time transfer capabilities with Visa Direct."

Vietnam is estimated to be one of the top-10 remittance recipients in the world. Millions of Vietnamese living and working abroad will now be able to use MoneyGram to send money seamlessly and conveniently to family and friends back at home.

"In this digital age, we believe it is important to introduce solutions that can improve our cardholders' lives," Nguyen Minh Tam, deputy general manager at Sacombank said in the release. "We're excited to once again be at the forefront of innovation with Visa Direct making cross-border remittances hassle-free and efficient to any Sacombank account holder in Vietnam using their Visa card on Sacombank Pay application."