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MODIFI secures $100m debt facility with HSBC Innovation Banking UK
MODIFI, a global cross-border trade payments company, has secured a $100 million line of credit with HSBC Innovation Banking UK to continue its growth.
MODIFI helps exporters and importers to facilitate their international business. Through its digital platform, the company allows vendors to receive payments instantly while giving buyers the option to defer payment for up to 180 days.
“We are excited to partner with a top-notch financial institution like HSBC Innovation Banking to meet the growing demand of our customers for higher liquidity.”
Nelson Holzner, CEO and Co-Founder of MODIFI.
HSBC Innovation Banking UK offers flexible banking solutions for startups, scalers, growing businesses, investors and those preparing for IPOs. The partnership with HSBC Innovation Banking is a key element of MODIFI’s refinancing strategy, which aims to diversify financing sources with funding providers. MODIFI recently entered into a $75 million line of credit with another global financial institution.
“There is a growing need for innovative solutions that remove barriers, increase transparency and enable small and midsize businesses to trade on a par with larger corporates. We are incredibly excited at HSBC Innovation Banking to support MODIFI as it continues to become a leading provider of trade finance products,”
Conor Sheehy, Head of FinTech Warehouse Finance at HSBC Innovation Banking.
American Express & Jazeera Airways partner to expand payment option for customers
American Express has announced that Kuwait-based low-cost carrier Jazeera Airways now accepts American Express card payments.
The partnership will provide American Express cardholders with access to Airways’ growing travel destinations, with best-value flights and services. It will also provide extra convenience for travelers, allowing cardholders to easily book their flights.
“We are thrilled to be working with Jazeera Airways, increasing our range of accepted payment methods and adding value to our cardmembers,”
“As our network of airline partners continues to grow, we are committed to offering our members added convenience and accessibility, as well as the best travel options and experiences.”
Rasheed Khuzam, Kuwait Country Manager, American Express Middle East.
Additionally, American Express cardholders can use their American Express card when booking flights on the Jazeera app. This allows cardholders to have more payment options. They can use their American Express card with Jazeera, which operates a strong network covering 66 destinations in the Middle East, Europe, Central and South Asia, and Africa.
“At Jazeera Airways, we strive to offer the best customer experience for all our passengers. This includes a large variety of destinations, comfortable flights, and great value add services. By accepting American Express payments, we aim to provide customers with even greater payment choice.”
Bharathan Ravindran, Vice President of Commercial at Jazeera Airways
FIS sells Worldpay to GTCR at $18.5b valuation
FIS, a global financial services technology company, has announced that it has entered into an agreement to sell a majority stake in its Worldpay Merchant Solutions business to private equity funds managed by GTCR in a transaction that valued Worldpay at $18.5 billion.
The agreement will allow for more centralized management and simplified operations for FIS and Worldpay. Additionally, the initial proceeds provide immediate flexibility in capital allocation.
“This transaction allows FIS to monetise our Merchant Solutions business at an attractive valuation partially and provides certainty for all stakeholders,”
“It also allows us to simplify and drive greater focus on delivering innovative, next-generation financial technology and software solutions. At the same time, Worldpay will become a privately held company and benefit from the resources and expertise of GTCR.”
Stephanie Ferris, CEO and President FIS.
As part of the deal, GTCR has committed to investing additional capital in Worldpay of up to $1.25 billion to pursue inorganic growth opportunities. FIS will use the proceeds of the sale to pay off debt and return additional capital to shareholders through an existing share buyback authorization and for general corporate purposes while maintaining a credit-grade rating. strong investment.
“We are thrilled to be working with Charles and the Worldpay leadership team to build on the company’s culture of innovation, invest in new capabilities and advance its leadership position across channels and geographies. As a firm, we have a long history of investing in the payments sector, and that experience provides us with tremendous confidence in the opportunity for sustained, long-term growth at Worldpay.”
Collin Roche, Co-CEO and Managing Director at GTCR.
FIS will remain a provider of financial technology solutions to financial institutions, capital markets firms, businesses and developers worldwide.
Mastercard uses AI to flag real-time payment fraud for UK banks
Mastercard is fighting fraudsters with its AI-powered ‘Consumer Fraud Risk’ solution, now available in the UK.
Leveraging Mastercard’s artificial intelligence capabilities and a network view of account-to-account payments, it helps banks predict and prevent fraudulent payments of any kind. In partnership with nine UK banks, including Lloyds Bank, Halifax, Bank of Scotland, NatWest, Monzo and TSB, Mastercard uses large-scale payment data to help identify payment frauds in real time. real time before the money leaves the victim’s account.
Organized criminals transfer “scam” money through a series of “mule” accounts to hide them. To combat this, for the past 5 years, Mastercard has been working with UK banks to track the flow of money through these accounts and then close them. Drawing on information from this tracing and overlaying it with specific analytic elements, Mastercard’s AI solution provides banks with the information they need to intervene in real time and stop payments before money is lost.
TSB was one of the first banks to adopt Mastercard’s Consumer Fraud Risk tool and has used it with great success. Other banks that accept the risk of defrauding consumers will do so in 2023.
“Banks have found these scams incredibly challenging to detect,”
“Their customers pass all the required checks and send the money themselves; criminals haven’t needed to break any security measures. As we all live more digital lives this type of fraud erodes victims’ confidence to interact online. Our goal is to build and maintain that trust. Using the latest AI technology, we are helping banks identify and predict which payments are being made to fraudsters and stop them in real-time.”
Ajay Bhalla, president of Cyber and Intelligence at Mastercard.
Mastercard will be rolling out Consumer Fraud Risk in the UK first, as it has extensive experience in tracking and preventing financial crime in the country’s real-time banking system and has help coordinate banks sharing their fraudulent data. It is currently approaching the next most suitable markets to adopt this technology.
Visa and SAP partner to enhance enterprise payments
Visa announced that it has partnered with SAP to streamline and simplify business-to-business (B2B) payments for businesses.
The Asia-Pacific-focused partnership marks the first time Visa and SAP have teamed up to offer a way to integrate payments into the SAP ecosystem through the SAP Business Technology Platform (SAP BTP). .
This partnership sets the stage for Visa and SAP to explore integrated finance in the B2B market, helping to integrate the financial journey into business operations.
For Visa, the move aligns with its strategy of growing its footprint in the B2B space, supporting broader cash flows between individuals, businesses and governments, beyond consumer payments. This includes customer and supplier account flows, corporate payments with card solutions, and cross-border payments.
“The movement of money is becoming increasingly digital, but the bulk of transformation has been focused on the consumer space,”
“There is an urgent need to modernise the way enterprises pay and enhance the B2B payment experience. Our collaboration with SAP is an exciting step in making B2B payments simpler and more intuitive as organisations can make payments immediately on SAP platforms with their Visa corporate cards, instead of having to leave their existing enterprise ecosystem and to navigate the different payment methods that their vendors accept. B2B payments needs to be intuitive, speedy and fuss-free, so organisations can spend time and resources on other aspects of their businesses.”
Stephen Karpin, Regional President of Asia Pacific, Visa.
For SAP, this decision is intended to improve the customer experience when using SAP software to manage their business. Running on SAP BTP, B2B Payment Services will provide convenient Visa payment services to SAP customers. Bringing more automation to checkouts that mark the last mile of shopping will help businesses gain efficiency in the buying journey as they securely make payments with just a few clicks mouse.
“Our collaboration with Visa endeavours to streamline and simplify the B2B payment process and drive further efficiencies for our joint customers. Embedding Visa payment into the SAP ecosystem aims to scale and accelerate digital commerce; together empowering enterprises, from small businesses to government agencies and non-profit organisations, to make secure payments with just a few clicks, transforming the last mile of procurement,”
Paul Marriott, President of SAP Asia Pacific Japan.
The integrated financial solution will initially be offered to SAP customers in Australia, India, Japan, Malaysia, Singapore, Thailand and Vietnam, with plans to roll out to other markets in the region.
Chapa & Telegram team to enhance digital payments in Ethiopia
Chapa, a payment solutions provider in Ethiopia, has announced a partnership with Telegram to enable merchants using Telegram to seamlessly accept payments from customers, including financial and digital payments. digital in Ethiopia.
Chapa’s integration with Telegram’s bot ecosystem allows merchants to accept payments without requiring customers to leave the app. Whether it’s mobile money, bank transfers, or debit/credit cards, Chapa allows users to make payments instantly, improving convenience and accessibility.
“We are honoured to represent Ethiopia on the international stage as the exclusive Telegram payment provider in Africa,”
“This noteworthy accomplishment speaks to the progress of our emerging fintech sector and reaffirms our commitment to drive financial technology advancements within the region.”
Israel Goytom, CTO and Co-founder of Chapa.
Bot developers can seamlessly integrate Payments Bot into any e-commerce platform by accessing Telegram’s open platform and available APIs. This integration opens up exciting opportunities for merchants, allowing them to accept payments through any bot-powered platform.
Chapa’s mission is to empower Ethiopian businesses to expand their reach in the global market, and this partnership with Telegram takes us one step closer to achieving that goal. We’re revolutionizing the way users interact with businesses, delivering a seamless experience that combines messaging and payments.
With Telegram allowing payments in the messaging platform, the possibilities are endless. Chapa and Telegram are excited to bring this transformative experience to Ethiopian users, improving their daily lives and opening new avenues of development.
TransUnion & NatWest expand Credit Score Service for UK consumers
TransUnion and NatWest Group have expanded their existing partnership to introduce Know Your Credit – a retail banking credit reporting service to all eligible UK consumers.
The new service builds on the bank’s existing engine, which has seen over five million NatWest and Royal Bank of Scotland customers access their TransUnion credit scores through the dashboard for free. interact on mobile banking application.
Now, TransUnion and NatWest Group are expanding their ability to offer this service to all eligible UK consumers, regardless of their banking institution.
“Understanding credit information is essential nowadays, given the important role credit plays in our lives — from enabling everyday purchases to helping people achieve life goals, such as buying a car or home. With the introduction of NatWest’s new service, we are helping to make credit information even more accessible, empowering consumers to take control of their financial well-being and supporting access to credit.”
James Robinson, Managing Director of Consumer Interactive at TransUnion in the UK.
Know Your Credit Score provides free, unlimited access to credit score information from TransUnion, allowing individuals to better understand their credit status and make informed financial decisions. transparent. Research by TransUnion shows that 53% of people who use the tool to track their credit profile have improved their credit score within six months.
“We want to empower our customers and help them reach their financial goals. Through our partnership with TransUnion, we are helping our customers better understand their credit information and how it is used. We are building on this by offering the benefits of this service to everyone, no matter where they bank, so they can enjoy the positive impact it brings.”
Phil Sheehy, Customer Goal Lead, Short-Term Borrowing at NatWest.
FundingShield partners with Mastercard to leverage its open banking platform
FundingShield, a cloud-based company providing FinTech solutions for risk management, compliance, and fraud prevention, has partnered with Mastercard to leverage an open banking platform run by Finicity, a Mastercard company provide.
“FundingShield has over 95% coverage of licensed service providers in the real estate, mortgage, closing and settlement space in our live repository. This partnership with Mastercard allows us to leverage its open banking connectivity of over 95% of US-based deposit accounts for consumer-permission access to real-time, bank-sourced data to expand our B2B and B2B2C payment verification solutions for clients.
“With this partnership, we deepen our mortgage, title, and real estate offerings as a one-stop shop. Further, this is a natural extension of our scalable and malleable solutions with applications across numerous sectors. We are actively engaged and delivering loss prevention tools for accounts payable, treasury, and supplier risk management teams across several industries.”
Ike Suri, CEO FundingShield.
FundingShield solutions manage risks for B2B and B2C businesses that are facing an increase in cybersecurity threats such as hacks and frauds. FundingShield payment verification solutions support bank account ownership confirmed with consumer authorization data from the banking institution where the account is held, using Mastercard’s open banking platform . This source data is then used to help approve payments before a FundingShield customer initiates a wire transfer, ACH, or other payment method from the client’s banking institution.
This partnership expands FundingShield’s offering in the real estate, mortgage and securities industries with solutions that protect buyers, sellers, brokers, bank and non-bank lenders, warehouse lending and payment and title institutions.
TerraPay Group Expands Business Operations in Italy and Sets Sights on European Union
TerraPay, a leading global payments infrastructure company, today announced that it has secured authorization as an Electronic Money Institution (EMI) in Italy. Having obtained approval from the Bank of Italy, TerraPay is set to expand its operations within the country and subsequently, throughout the European Union.
Under Article 114-quinquies Consolidated Banking Act (TUB), the Bank of Italy authorized TerraPay Italy as an electronic money institution. This holds great significance not only for TerraPay but also for the thriving Italian fintech sector, marking a notable step forward in their respective trajectories. Leveraging its extensive expertise and innovative approach in the digital payments sector, TerraPay aims to positively impact and contribute to the European market.
“The commitment of the TerraPay team, supported by the international firm Orrick, was crucial in reaching this historic milestone,”
“We are excited about what the future holds for us in Italy, and we will continue to work towards providing innovative and secure digital financial services.”
Ambar Sur, Founder and CEO, TerraPay.
“Securing this authorization firmly establishes TerraPay as a trailblazer in the realm of electronic money within Italy, while also paving the way for exciting avenues of expansion and growth across both the Italian and European markets.”
Ram Sundaram, Co-Founder, and COO, TerraPay.
TerraPay has established itself as a global partner to leading banks, money transfer operators, mobile wallet operators, and financial institutions to facilitate digital transactions without borders. As a B2B company, TerraPay partners with other businesses and helps them leverage its agile, secure, and scalable technology platform to enhance their customer proposition for remittances, payments, and cross-border spending. The company has an expansive network across 121 receive countries and 208 send countries and is regulated in over 28 countries, globally. The company’s key markets include; GCC; North, South, and Central Africa; Europe and SE Asia; Central, North, and South Americas.
TerraPay’s vision is aligned with achieving the SDG 2030 goal of fostering economic growth and equality, by reducing the cost of transactions across diverse payment channels such as mobile wallets and bank accounts, to name a few.
“I want to highlight the utmost significance of fostering a resilient regulatory culture within our company. Our collaboration with the Orrick law firm has once again underscored the pivotal role that robust legal support plays in the dynamic landscape of the financial industry.”
Akbar Hussain, Co-Founder, General Counsel & CCO, TerraPay.
This noteworthy accomplishment was made possible through the concerted efforts of the TerraPay team, which plans to strengthen its presence in Italy and beyond, and the invaluable legal guidance provided by Marco Boldini, a partner at the Orrick law firm, along with his accomplished team consisting of Teresa Mattioni, Niccolò Martinoli, and Niccolo Matteo Bonaldo. Furthermore, on the corporate front, the pivotal contributions of partner Marco dell’Antonia and senior associate Jacopo Taddei were also instrumental in enabling this. TerraPay expresses sincere gratitude for this momentous achievement, as navigating the complex authorization procedures would have been challenging without the support of this team. The company remains optimistic about the outstanding partnership established with the Bank of Italy and the path ahead.
NCR expands ATM network to Portugal
Business technology provider NCR has expanded its Cashzone-branded ATM network in Portugal. To date, more than 100 Cashzone-branded ATMs have been installed in Portugal, giving consumers, including those visiting the country, easier access to cash.
NCR is one of the largest independent ATM operators in the world and their Cashzone brand is present in the UK, Spain, Germany, Ireland and now Portugal.
The combination of high cash availability, branch consolidation and Portugal’s vibrant tourism market has made it an ideal location for Cashzone expansion. NCR has added ATMs mainly in tourist areas in southern Portugal and Lisbon, with plans to enter new areas in the coming months. The machine is installed at trusted stores, such as convenience stores, supermarkets, food and beverage stores, shopping malls and entertainment stores.
“There continues to be a widespread demand from consumers for access to cash, particularly while on holiday,”
“By bringing NCR’s Cashzone-branded ATMs to Portugal, we are enabling visitors to Portugal to interact with an ATM brand they’re familiar with and giving retailers the ability to widen their service offerings and engage with new customers.”
Stuart Mackinnon, EVP, ATM Group, NCR Banking.
NCR is one of the UK’s largest independent ATM operators, providing safe and reliable access to cash through the Cashzone brand. Its proprietary ATM software and solutions make its ATMs more attractive while providing exceptional service. Headquartered in Atlanta, Georgia, the company has 35,000 employees worldwide. This is a trademark of NCR Corporation in the United States and other countries.
888 selects Nuvei to boost its payment experience in the US
Nuvei Corporation, a Canadian FinTech company, has been selected by 888, the global operator of iGaming, to build local card and payment method acquisition capabilities.
888 leverages Nuvei’s technology platform, broad accessibility, instant interbank payments and in-depth knowledge of the curated iGaming market to maximize payment acceptance and maximize payments. Optimize risk management.
In addition to allowing 888 to accept deposits, players can instantly withdraw funds from their 888 account directly to their bank card or through Nuvei Instant Bank Transfer, iGaming’s payment method in the industry. American business to send money and make instant payments from account to account.
“Enabling players to deposit and withdraw funds from their iGaming accounts seamlessly and securely is critical to the overall platform experience. At 888 we’re committed to offering the most comprehensive iGaming experience in the market, so we’re excited to add Nuvei’s card acquiring capabilities alongside its Instant Bank Transfer solution. Nuvei has a rich heritage of enabling iGaming operators to maximize their payments’ performance in regulated markets across the globe.”
Noam Klivitzky, VP of US Marketing 888.
Nuvei has provided payment services to 888 in Europe since 2017 and enabled 888 to launch in Ontario, Canada, once the province launched its newly regulated iGaming market in April 2022.
“We’re thrilled to continue to grow our relationship with 888 and support its global expansion in the US and beyond. Instant, convenient, secure deposits and payouts are critical to winning players in the rapidly expanding US iGaming landscape. Optimising card payment acceptance is a key component of the cashier experience, and Nuvei has decades of experience supporting operators maximize their revenue growth.”
Philip Fayer, Chairman and Chief Executive Officer at Nuvei.
Hong Kong based FinTech platform Micro Connect raises $458m in Series C funding
Micro Connect, Hong Kong-based FinTech Platform, Micro Connect, Financial Services, FinTech, China, MSMEs, SMEs, Retail, Series C Funding, MCEX, Healthcare Management, Exchange Platform Exchange, Online Trading, Financial Solutions, Digital Finance, Hong Kong has announced that it has raised $458 million in a Series C funding round, with extensive participation from multiple home groups. new and existing investments.
The funding round involved investors from Europe, North America, the Middle East and Mainland China, including long-term investment managers, private equity and venture capital funds, university funding, internet platforms and retail groups.
Micro Connect Financial Asset Exchange (Macau) (MCEX), a licensed global exchange for DRO and related products, will launch in August. New capital and shareholder base raised The initiative will support Micro Connect’s efforts to improve MCEX’s market structure and develop the world’s largest financial market for micro and small business investments.
Micro Connect is an exchange group that has leveraged fintech to connect global capital with Chinese micro and small businesses. With an innovative revenue-sharing investment and financing model, stores in the food and beverage, retail, services, culture and sports sectors can conveniently raise long-term capital and affordable prices by listing on the Micro Connect Financial Asset Exchange (Macau) (MCEX), the world’s leading exchange for revenue shares trading.
The corporation’s proprietary revenue-sharing asset class, Daily Revenue Bonds (DROs), provides investors with direct and diversified exposure to daily and transparent cash flows of millions. stores in China’s dynamic consumer economy, making capital more accessible and affordable for business owners.
With its fund platform, structured product solutions, and licensed exchange, Micro Connect brings efficiency and liquidity in small business investing to global professional investors and an alternative. New for impact investing.
Banco Santander, BBVA & CaixaBank join forces to fight financial fraud
Banco Santander, BBVA and CaixaBank have teamed up to combat financial fraud, one of the biggest challenges in banking. Banks are working on tools to exchange vital information and data to help prevent financial crime.
They founded FrauDfense, a company that will bring together banks’ anti-fraud initiatives. FrauDfense has been presented to the competent regulatory and control authorities. The alliance will first develop a tool to share information about fraud and effective responses. This tool will keep information private and secure.
The Alliance will fight fraud, which can take on many sophisticated forms, such as new account fraud (when a customer’s identity is stolen to purchase a product), online fraud, and card payments .
FrauDfense, an ambitious association to start in Spain, is not a closed book. After the initial phase, the alliance will consider adding other banks and companies to increase its reach. Banks and businesses in other industries interested in sharing fraudulent information to protect customers, organizations and society at large will also be able to participate. Carlos Requena will be appointed CEO of FrauDfense and the board will include two representatives from each bank. These include Carles Solé Pascual, Santander España’s Chief Information Security Officer (CISO); Daniel Barriuso, Banco Santander Group Transformation Manager; Natalia Ortega, Head of Global Financial Crime, BBVA; Sergio Fidalgo, Head of Security at BBVA Group; Sofia Karapatsiou, Director of Fraud Control and Governance, CaixaBank, and Lorenzo Malo, CISO of CaixaBank.
BBVA’s Natalia Ortega will be the first female president of FrauDfense, a role that will rotate every two years among the three member banks.
Hub71 & Wio Bank partner to streamline banking for startups in Abu Dhabi
Hub71, a global technology ecosystem in Abu Dhabi, and Wio Bank PJSC have announced a strategic partnership to transform the banking experience for startup founders in the capital.
Partnership to improve bank account processes for SMEs; Wio becomes Hub71’s official banking partner, enabling startup founders to benefit from commercialization opportunities and professional mentoring to drive innovative new products and services in Abu Dhabi.
“Our partnership with Wio Bank further solidifies our commitment to making Abu Dhabi an attractive destination for startups to do business. By collaborating with an Abu Dhabi-based digital platform leading the future of business banking, we are opening the door to robust banking and commercial opportunities for our startup community. This partnership is a prime example of a powerful combination within Abu Dhabi’s tech ecosystem that fosters startup growth in the UAE’s capital.”
Ahmad Ali Alwan, Deputy CEO of Hub71.
Wio Bank was established with the main mission of contributing to the future readiness of the SME segment in the UAE. Wio will streamline the bank account opening process as a full-fledged banking partner as startups join Hub71. The digital bank will also participate in Hub71 events and initiatives in line with its growth strategy.
“We are thrilled to announce our partnership as the first official banking partner of Hub71 and embark on a shared mission to empower startups in the region. We recognise the significant impact made by the global startup community and firmly believe that by simplifying access to funding and essential banking products, we have a unique opportunity to nurture their growth and facilitate their paths to new achievements. Through collaboration with Hub71, we are committed to delivering meaningful banking solutions that make a difference, enabling startup owners to thrive and succeed on their entrepreneurial journey.”
Jamal Al Awadhi, Chief Operating and Experience Officer, Wio.
Unlimit to boost inDrive expansion with global payment solution
Unlimit, a global FinTech company, has announced a partnership with inDrive, the growing online car sharing service in the United States.
Under the partnership, inDrive will leverage Unlimit’s proprietary payments infrastructure to continue its global expansion with local payment solutions in new markets, including local currency payment processing and through secure payment methods.
Unlimited provides enhanced liquidity through a scalable financial interface to startups and businesses worldwide.
inDrive meets the mobility needs of users in more than 700 cities and 47 countries.
The app has been downloaded more than 150 million times. Unlimited will provide inDrive with one of its proprietary payment infrastructures, support for a variety of payment methods, including mobile and cash payments, global and local card programs, digital wallets number and direct transfer.
This will allow inDrive to accept payments in local currency and through alternative payment solutions.
Currently, Unlimited is the main payment solutions provider for inDrive in Mexico and also supports the company’s payment processing needs in Colombia, Jamaica, Peru and Chile, where drivers use the platform to top up. money into their personal accounts. However, the two companies are looking to expand their cooperation to other new markets later this year.
“We are very excited to be partnering with inDrive, a customer-centric company that is driven to empower people and ensure prices are fair. They have chosen to partner with us because we provide world-class payment solutions that are flexible, dynamic, and adaptable to any market, whether local or international. We believe we can help them unlock the full potential of their app by making payments faster, easier, and more convenient for both passengers and drivers alike, wherever they are in the world.”
Irene Skrynova, Chief Customer Officer, at Unlimit.
“inDrive’s partnership with Unlimit represents a powerful alliance that seamlessly combines cutting-edge technology and innovative financial services. This collaboration will specifically benefit drivers, offering them a seamless and efficient method to quickly and securely refill their accounts, ensuring uninterrupted services and enhancing their overall experience on the road.”
Alexander Afanasov, VP, of Fintech, at inDrive.
TerraPay partners with Safaricom to enhance cross-border payments
TerraPay, a global payments infrastructure company, has partnered with Safaricom, a financial services, IT and telecommunications provider based in Kenya.
TerraPay Group company Mobex (Kenya), a remittance service provider, will enable over 30 million M-PESA mobile wallet owners in Kenya to send real-time payments through TerraPay’s interoperable network to all wallets in Bangladesh and Pakistan, with plans to roll out to India and Nepal in the next few months.
Through this partnership, the two companies aim to create a financially inclusive payments ecosystem while promoting empowerment and financial independence.
“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.”
Ambar Sur, Founder & CEO, TerraPay.
TerraPay is a global partner of banks, mobile wallets, remittance operators, merchants and financial institutions, creating a larger and more inclusive international financial ecosystem.
“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.”
Peter Ndegwa, CEO Safaricom.