Visa has forged a strategic partnership with payments infrastructure company TerraPay to deliver domestic payment solutions and enable cashless transactions for global remittances.
The partnership will focus on accelerating the use of mobile wallets and digital currencies for digital payments and remittances.
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Regulated in more than 45 countries globally, TerraPay has established itself as the preferred partner for money transfer and mobile wallet operators, and for financial institutions.
TerraPay helps partners leverage its technology to bolster their customer offerings for remittances, payments, and cross-border spends.
TerraPay founder and CEO Ambar Sur said: “We at TerraPay view the Visa partnership as a next step towards the development of sustainable and scalable interoperable payment options for our partners and their consumers’ payment requirements.
“We want our partners to remain focused on their customers’ payment needs and we assist them technologically to deliver payment solutions in an agile, reliable, and secure method to fulfil their customer needs.”
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By GlobalDataThe latest partnership is in line with Visa’s strategy to open up its network for a host of companies that are transitioning to digital channels and create new commerce experiences.
Visa CEMEA VP and head of strategic partnerships, fintech and ventures Otto Williams said: “Interoperability is key to a digitally connected payments ecosystem and we are excited that TerraPay is part of our growing Fintech Fast Track program as we work together to connect more communities with these solutions.”
