MoneyGram International, Inc. (NASDAQ:MGI), a provider of digital P2P payments, and Haas F1 Team today announced that MoneyGram will become the new title sponsor of Haas F1 Team – soon to be the MoneyGram Haas F1 Team.

The two organizations have signed a multiyear agreement for MoneyGram to become the lead partner of Haas F1 Team, a fan favorite in the F1 World Championship. The new team name will officially take effect in 2023. In addition, the new team cars with rebranded livery will be unveiled ahead of next year’s season.

“Our fans demand speed, and we deliver it, just as MoneyGram does for its customers,” said Guenther Steiner, Team Principal of Haas F1 Team. “MoneyGram is a global leader in fintech and payments and is always setting out to push the boundaries of technology. It’s that eagerness for innovation that really drew us to partner with MoneyGram, and we’re confident that we will continue to grow together and reach our full potential.”

Through this partnership, MoneyGram will receive constant global visibility, as the F1 World Championship runs nearly year-round and results in extensive television coverage almost every week.

“With this bold new initiative, we are meeting our customers as well as potential new customers where they are,” said Greg Hall, MoneyGram Chief Marketing Officer. “Next year’s racing calendar has a uniquely strong overlap with MoneyGram key markets, so we are excited to unlock new channels to hear from our customers and understand their specific needs. As we look to capture growth from new customer segments, we’re also looking forward to the endless opportunities this sponsorship will bring for additional exposure to a broader consumer base.”

A global company with customers in nearly every country around the world, MoneyGram is eager to team up with a prominent organization competing in one of the few truly global sports. The F1 2023 season will take place across 24 races held in 21 countries on five continents around the world. The countries on next year’s circuit account for nearly 80% of the Company’s transaction value.