VM Money Transfer Services (VMTS) has agreed a strategic partnership with cross-border payments network, TerraPay.

VMTS facilitates money transfer services globally to customers sending money to Jamaica from Europe, the UK, US, Canada, the Cayman Islands and Turks and Caicos.  With the new agreement, VMTS gains access to TerraPay’s online platform. This enables cross-border transfers for customers sending and receiving money across approximately 31 markets globally.

Michael Howard, CEO, VMTS, said: “Purposeful partnership is an integral part of VM Money Transfer’s mission as we seek to continuously improve service delivery to our clients.  We are excited about this recent collaboration. With TerraPay’s extensive network, we have the opportunity to significantly broaden our reach and potentially tap into new markets. All the while, keeping our clients supported and empowered with convenient and secure channels for their money transfer needs.”

Juan Luis Hernandez, TerraPay’s Senior Regional Manager for Latin America and the Caribbean, added: “We are delighted to partner with VM Money Transfer Services to drive innovation and efficiency in cross-border remittances. Together, we aim to provide a superior remittance experience for Jamaicans worldwide. It strengthens connections with their loved ones and contributes to the economic development of Jamaica.”

VMTS customers can continue to have their funds deposited directly to their Jamaican bank account through VMTS’ Direct to Bank Service. Clients can also collect their remittances in Jamaica from VM Money Transfer’s over 70 sub-agents, 8 VM Money Express locations and 16 VM Building Society branches Islandwide.

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