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TerraPay partners with Safaricom to enhance cross-border payments

By Delisha Fernandes

July 20, 2023

  • Digital Payments
  • financial news
  • FinTech Kenya

TerrayPayTerraPay, a global payments infrastructure company, has partnered with Safaricom, Kenya-based telecommunications, IT, and financial services provider.

TerraPay’s group company Mobex (Kenya), a money remittance provider, will enable more than 30 million M-PESA mobile wallet-holders in Kenya to send real-time payments through TerraPay’s interoperable network across all wallets in Bangladesh & Pakistan, with plans to roll out India & Nepal in a few months.

Through this collaboration, both companies aim to work towards creating a financially inclusive payments ecosystem while fostering financial empowerment and independence.

Ambar Sur, Founder & CEO, TerraPay said, “We believe this breakthrough collaboration with Safaricom will usher a world of new possibilities for mobile financial service operators to directly scale globally and provide customers with the choice to send payments in a secure, transparent, and swift manner. Our partnership with Safaricom will further boost our capabilities in providing an inclusive global financial ecosystem with excellent technical solutions.”

TerraPay is a global partners to banks, mobile wallets, money transfer operators, merchants, and financial institutions, creating a more expansive and inclusive international financial ecosystem.

Peter Ndegwa, CEO Safaricom , said, “We are thrilled to partner with TerraPay as it comes at a time when a growing number of customers are embracing digital payments to send money to their loved ones. TerraPay’s interoperable technology platform will enable our customers to execute secured & low-cost payments across key regions, further encouraging the adoption of digital payments in the region. We look forward to a successful collaboration.”

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