MTN Mobile Money Uganda, a subsidiary of operator MTN Uganda, and TerraPay, a global payments infrastructure company, have announced an association that will enable MTN Mobile Money Uganda to facilitate international digital cross-border remittances and speedy money transfers to beneficiaries in a number of regions.
Last year TerraPay partnered with MTN Mobile Money Uganda as a digital payments infrastructure company equipped to deliver inbound cross-border payments to mobile wallets in the East African region. Now, with the enhanced partnership, it will be facilitating outbound international remittance payments to countries such as India and China.
According to TerraPay, the beneficiaries which include friends and family of migrants across these countries, will now have access to assured, real-time and convenient, small-value ticket remittance channels connecting the company’s global network of more than four billion bank accounts and more than 1.5 billion mobile wallets.
TerraPay says its interoperability engine and scalable and agile technological prowess will aid partners and their customers and businesses to send and receive payments on a fully regulated, scalable, secure, transparent, and efficient platform.
It has to be noted that the company 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.
To recall, TerraPay partners with other businesses and helps them leverage its technology platform to enhance their customer proposition for remittances, payments, and cross-border spends. TerraPay has a footprint in over 94 countries around the world.