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November 16, 2021

TerraPay and MTN Mobile Money Uganda partners on international remittance

By Shalini mani

TerraPay is joining forces with telecom operator MTN Mobile Money Uganda to facilitate international money transfers across major international corridors.

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The Netherlands-based payments infrastructure company has been offering inbound remittance services to MTN Mobile Money Uganda’s mobile wallets since last year.

The expanded partnership will allow MTN Mobile Money Uganda to facilitate outbound international remittance payment to countries including India and China.

The firm will tap TerraPay’s engine and technological capabilities to support its partners and their customers as well as businesses to transfer and receive payments on its platform.

MTN Mobile Money Uganda CEO Stephen Mutana said: “This partnership is a true testimony of our MTN Group platform strategy of building strong ecosystems through partnerships and we will continue to invest in expanding the reach of our platform to consumers and businesses beyond Uganda because we believe that everyone deserves the benefits of a modern connected life.”

TerraPay East and Southern Africa regional director Willie Kanyeki added: “Since last year, TerraPay has partnered with MTN Mobile Money Uganda Limited as a digital payments infrastructure company equipped to deliver inbound cross-border payments to mobile wallets in the East African region.”

Recently, TerraPay partnered with mobile wallet service MOVii to enhance cross-border payments in Colombia.

In August this year, the firm signed a Memorandum of Understanding with Network International to enhance mobile wallet acceptance in the UAE.

In March, TerraPay expanded into bank account payments in the US and Canada markets to enable same day international money transfers and cross border remittances.

Free Report
img

Prepare for changes in the Payments market

 The Payments market has seen drastic changes in the past few years, with this only expected to continue. What does your company need to do to prepare for what’s to come? GlobalData’s Payment Trends for 2022 report explores the key trends in technology, consumer habits, and regulations shaping the market. We also identify the leading companies in this changing market, giving you a competitive market outlook. This report covers the impact of:
  • ESG
  • E-commerce
  • Mobile payments
  • Alternative payment rails (Real-Time Payments, Blockchain, BNPL)
  • Fraud & Cybersecurity
  • Regulations
Download the report now to learn essential strategies to maximize your growth in the face of rapid change.
by GlobalData
Enter your details here to receive your free Report.

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