TerraPay and Wave Mobile Money power cross-border money transfers to Mali

By Gloria Methri

In a move aimed at transforming cross-border money transfers in West Africa, TerraPay has partnered with Wave Mobile Money, one of Mali’s leading digital wallet services. The collaboration enables Malians to receive remittances from abroad directly into their Wave mobile wallets, streamlining access to funds and advancing financial inclusion nationwide.

Under the new partnership, TerraPay’s global network now enables remittance inflows from major corridors—including the US, Canada, and Europe—to be sent to Mali through a single integration. Funds can be received instantly, offering a faster, more secure, and cost-effective alternative to informal transfer channels.

With over 80% of Mali’s population owning mobile phones, mobile wallets play a crucial role in delivering financial services to the unbanked and underbanked populations. As the digital economy expands, partnerships like these are increasingly critical to closing the financial inclusion gap in the region.

Karamokho Badiane, Regional Head of Business Development at Wave Mobile Money, emphasised the broader impact of the initiative: “We are excited to join forces with Orabank Mali and TerraPay to revolutionise payment solutions and enhance financial accessibility for our customers. This strategic collaboration enables us to leverage TerraPay’s global payments infrastructure in conjunction with Orabank Mali’s extensive expertise in remittance services, thereby expanding our reach and delivering even greater value to our users.”

“Our shared commitment to financial inclusion will help break down barriers and offer more accessible solutions for individuals across the country. With TerraPay’s cutting-edge technology ensuring safe and reliable money transfers, we are confident that this initiative will play a crucial role in fostering economic growth and financial empowerment.”

Echoing this vision, Willie Kanyeki, Vice President – Sub-Saharan Africa at TerraPay, stated, “Our partnership with Wave Mobile Money marks a significant milestone in our mission to power borderless money movement. By enabling instant, cost-effective, and fully compliant remittances from key markets like the US, Canada, and Europe, we are simplifying financial access and driving financial inclusion in Mali.”

By integrating TerraPay’s infrastructure with Wave’s local reach, the collaboration not only enhances the remittance experience for Mali’s diaspora and their families but also underscores the growing influence of mobile money platforms in shaping the future of financial services in West Africa.