TerraPay, a company specialising in global money transfers, has joined forces with Wave Mobile Money to support cross-border remittance services.  

The move allows Malians to receive international remittances into their Wave mobile wallets, streamlining the process of accessing funds from abroad. 

The collaboration integrates TerraPay’s global payment network with remittance flows from Money Transfer Operators across North America and Europe into Mali. 

This integration is designed to provide instant receipt of funds for Wave users in Mali, aiming to strengthen financial inclusion and present a secure alternative to informal remittance channels. 

The partnership leverages the TerraPay’s payments infrastructure and the remittance service expertise of Orabank Mali, in conjunction with Wave Money’s mobile platform. 

Wave Mobile Money business development regional head Karamokho Badiane said: “We are excited to join forces with Orabank Mali and TerraPay to revolutionise payment solutions and enhance financial accessibility for our customers. 

“Our shared commitment to financial inclusion will help break down barriers and offer more accessible solutions for individuals across the country. With TerraPay’s cutting-edge technology ensuring safe and reliable money transfers, we are confident that this initiative will play a crucial role in fostering economic growth and financial empowerment.” 

TerraPay Sub Sahara Africa vice president Willie Kanyeki stated: “Our partnership with Wave Mobile Money marks a significant milestone in our mission to power borderless money movement. By enabling instant, cost-effective, and fully compliant remittances from key markets like the US, Canada, and Europe, we are simplifying financial access and driving financial inclusion in Mali.” 

Last month, TerraPay partnered with PayPal to offer real-time fund transfer capabilities to customers in the Middle East and Africa.