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Terrapay & UBA to enable e-wallet transfer for Wave users in Senegal

By Gloria Methri

August 02, 2023

  • Africa
  • Digital Money Transfers
  • FinTech

TerraPay, United Bank of Africa Senegal, Wave Digital Finance, Mobile Wallets, FinTech, AfricaTerraPay, United Bank of Africa Senegal (UBA Senegal), and Wave Digital Finance have partnered to offer real-time transactions to Wave mobile wallets using money transfer services like Western Union, Ria, Moneygram, Smallworld, and more.

This service has been developed to provide affordable and accessible payment solutions to send instant money transfers from key corridors and major countries such as France, Spain, Germany, and the UAE to Senegal.

Wave has more than 7 million monthly active users in Senegal, enabling it to receive funds transferred through UBA Senegal and TerraPay’s global payments infrastructure. Wave’s partnership with TerraPay and UBA Senegal is a significant step towards making financial services accessible to everyone in the country.

Mamadou Wilane, Regional Director of West & Central Africa, TerraPay, commented, “With our partnership with Wave Senegal, we are taking a significant step towards achieving this goal. This collaboration enables us to bring our strong technical solutions to customers in the westernmost part of the African continent and empower them with fast and secure borderless payment options while providing access to TerraPay’s widespread partner network to the people of Senegal.”

Revuz Ngningaye, Head Retail Banking at UBA Senegal, stated Today, this electronic money transfer with the endpoint on the Wave e-wallet will further revolutionize digital money transfer in the French-speaking world, especially in Senegal, a country with great potential.

Karamokho BADIANE, Head of Business Development at Wave added, “We are thrilled to collaborate with TerraPay and United Bank of Africa Senegal to enhance our payment solutions and offer more convenience to our customers. Leveraging TerraPay’s global payments infrastructure and UBA Senegal’s expertise in remittance services will allow us to expand our reach and provide more value to our 7 million active users. This partnership will enable us to offer more affordable and accessible payment solutions, which is crucial in providing digital financial services to all citizens in the country.”

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