MoneyGram taps budding fintech to grow its presence in Jamaica

The news: MoneyGram will let customers in Jamaica receive remittances through homegrown mobile wallet Lynk, per a press release. The wallet offers peer-to-peer (P2P) payments, retail payments, and bill pay.

Why it matters: Despite launching just over a year ago, Lynk has the potential to be a formidable player in Jamaica's mobile wallet space. It reached $9.8 million in payments volume and was the third-most-popular financial Android app in Jamaica, according to web analytics firm Similarweb.