Xpress Money has collaborated with TerraPay, the world’s first mobile payments switch, to provide real-time international money transfers to mobile wallets in Africa.
Powered by TerraPay’s global clearing and settlement service for mobile wallets, the collaboration will make it faster and convenient for Xpress Money consumers to send money to mobile accounts, in real time.
Leveraging Xpress Money’s extensive network of over 200,000 agent locations in 165 countries, customers can send remittances safely and instantly to mobile money services in Africa.
During the early launch, customers can send remittances to any mobile number or bank account in Nigeria and directly to Vodacom M-Pesa, Tigo Pesa, Airtel Money and Zantel Ezy Pesa wallets in Tanzania by visiting the nearest Xpress money outlet across 165 countries.
TerraPay founder and CEO Ambar Sur said: “TerraPay has brought mobile wallets mainstream by interconnecting them with the extensive global network of Xpress Money for cross border money transfer.
“Our partnership will play a pivotal role in expanding our footprint into new markets and help friends and families of migrant workers receive small value remittances frequently through a cost-effective and convenient service.”
TerraPay has also teamed up with Paga, Nigeria’s payments and financial services company and Selcom, a mobile money aggregator in Tanzania, to roll out cross border remittances to mobile money accounts in Nigeria and Tanzania, respectively.