The Dutch funds infrastructure firm TerraPay has joined forces with MTN Mobile Money Uganda Limited to energy speedy transfers to beneficiaries in locations like China and India.
“Since 2020, TerraPay has been offering inbound remittances to MTN Mobile Money Uganda Limited’s mobile wallets,” the businesses mentioned in a information launch Monday (Nov. 15).
“In its drive to build global payments highways that interconnect mobile wallets and banks across the world, TerraPay aims to cultivate inclusivity, independence, digital mobility and empowerment amongst everyone, with the additional outbound remittance channels now opened up,” the businesses wrote.
Willie Kanyeki, regional director, East and Southern Africa, TerraPay, mentioned the partnership will assist buddies and households of migrants throughout these international locations entry “assured access to assured, real time and convenient, small value ticket remittances channels,” linked to a worldwide community of greater than 4 billion financial institution accounts and 1.5 billion cell wallets.
And Stephen Mutana, CEO of MTN, mentioned the partnership exemplifies the corporate’s perception that “everyone deserves the benefits of a modern connected life.”
“We further believe that mobile money transfers should not be limited to borders and the winner in all this, is the MTN Mobile Money customer who will experience a seamless user experience sending and receiving money from China and India, directly on their mobile phones,” he said.
Read extra: TerraPay, Network International Team Up To Promote Digital Payments Across The UAE
This partnership follows TerraPay’s announcement in August that it was working with Network International out of the United Arab Emirates to advertise digital pockets acceptance and digital forex use for funds all through that nation.
The deal offers TerraPay a hyperlink within the UAE and the Middle East’s booming funds market. Network International is among the many largest funds corporations within the Middle East/North African area.
Earlier this yr, TerraPay expanded its providing into U.S. and Canadian checking account funds, permitting cross-border remittances and quick worldwide transfers in cashless economies throughout the globe.
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