MoneyGram has signed a global agreement that will allow Ukash customers to send domestic and international money transfers from Ukash's website and receive it at any of 310,000 locations through MoneyGram's account deposit channels.

The initial service will launch in the U.K. this year with plans to expand into other markets afterwards.

Ukash operates an e-commerce cash payment system that allows consumers to shop and pay online. Users purchase codes with cash in retail stores or online. The 19-digit codes can then be used to pay directly on websites that accept Ukash transactions, or loaded onto prepaid cards or digital wallets. The company's network has more than 460,000 physical points of sale in more than 50 countries.

"MoneyGram's global network makes the Ukash service accessible to an even wider audience of customers. We now will be able to extend the convenience of transacting online, to more people who may not use traditional banking facilities," said David Hunter, chief executive officer of Ukash, in a release.

MoneyGram also recently expanded its mobile money capabilities via a partnership with FNB National Bank in South Africa. 

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