The partnership is expected to be advantageous to Network’s merchant network in the UAE, as well as TerraPay’s global partner networks across Asia, Europe, US, Africa. Credit: Nick Fewings on Unsplash.

Dutch payments infrastructure company TerraPay has signed a Memorandum of Understanding (MoU) with Network International to boost mobile wallet acceptance in the UAE.

The partnership strengthens TerraPay’s foothold in the Middle Eastern payments market.

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Dubai-headquartered Network enables digital commerce across the Middle East and Africa (MEA) region.

Under the partnership, the companies plan to develop and deliver a payment solution on an interoperable platform in the UAE.

Both the parties will work together to enable a large addressable market from the African mobile wallet ecosystem, to transact across Network’s terminals in the UAE and at e-commerce platforms they support.

Leveraging Network’s network of merchants and acquirer processing clients in the Middle East and Africa, TerraPay will accept mobile wallet payments using its payment processing rails.

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The partnership is expected to be advantageous to Network’s merchant network in the UAE, as well as TerraPay’s global partner networks across Asia, Europe, the US, Africa.

TerraPay co-founder and chief business officer Ani Sane said: “We are excited about our upcoming association with Network International, in driving mobile wallet acceptance and consumption across multi-channels on Network International’s terminals and e-commerce sites in the UAE.

“This paves the way to foster financial inclusion and independence for customers, by offering real-time mobile wallet payments, for the very first time in the UAE. Opening up interoperability for mobile wallets is the next big wave in digital payments across the world.”

Network International Group CEO Nandan Mer added: “Mobile wallets are increasingly gaining popularity as a preferred payment method across the world, and as a market leader in end-to-end payment solutions, we are delighted to collaborate with TerraPay to enable acceptance of mobile wallets across our merchant network in the UAE.”

In March this year, TerraPay expanded into Bank Account payments in the US and Canada markets, enabling same day international money transfers and cross border remittances.

Last year in October, the firm obtained its MSB registration from the Financial Transactions and Reports Analysis Centre of Canada, as part of its move to foray into North America.