The Dutch payments infrastructure company TerraPay has joined forces with MTN Mobile Money Uganda Limited to power speedy transfers to beneficiaries in places like China and India.
“Since 2020, TerraPay has been offering inbound remittances to MTN Mobile Money Uganda Limited’s mobile wallets,” the companies said in a news release 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 companies wrote.
Willie Kanyeki, regional director, East and Southern Africa, TerraPay, said the partnership will help friends and families of migrants across these countries access “assured access to assured, real time and convenient, small value ticket remittances channels,” connected to a global network of more than 4 billion bank accounts and 1.5 billion mobile wallets.
And Stephen Mutana, CEO of MTN, said the partnership exemplifies the company’s belief 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 more: 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 promote digital wallet acceptance and digital currency use for payments throughout that country.
The deal gives TerraPay a link in the UAE and the Middle East’s booming payments market. Network International is among the largest payments companies in the Middle East/North African region.
Earlier this year, TerraPay expanded its offering into U.S. and Canadian bank account payments, allowing cross-border remittances and fast international transfers in cashless economies across the globe.
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