DUBAI, UAE, May 7, 2024 /PRNewswire/ -- TerraPay, a leading
global money movement company, has joined forces with Multipass, a
bank challenger in the financial technology sector, to redefine
cross-border payment solutions for corporate customers. This
strategic collaboration aims to offer unparalleled reliability,
efficiency, and cost optimisation to businesses operating in the
UK, Europe, and beyond.
Through this partnership, Multipass gains access
to TerraPay's extensive global payments network, expanding its
reach to new jurisdictions and local payouts in multiple
currencies, ensuring efficient cross-border payment solutions to
its clients. Both organizations offer 24/7 customer support and
dedicated personal account managers, emphasising the importance of
human interaction alongside technological advancement.
Sudhesh Giriyan, President – Cross-Border Payments at
TerraPay, expressed enthusiasm about the partnership, stating,
"TerraPay is thrilled to collaborate with Multipass to
revolutionize cross-border payments for their corporate customers.
This partnership underscores our dedication to providing innovative
solutions that drive efficiency, reliability, and cost
optimisation."
Rami Chedid, CEO of Multipass
for the UAE and the Middle
East, commented, "Our partnership with TerraPay
represents a significant step forward in our commitment to deliver
secure and fast payment solutions to medium-sized entrepreneurs
trading internationally. All while prioritizing security and
efficiency in speed and costs. As we continue to work on our
expansion plans in the UAE, this trusted partnership gives a new
level of importance, offering our clients practically a global
payment reach."
He continued to state that Multipass has initiated the
application process for a financial services license in UAE to be
regulated by The Dubai Financial Services Authority (DFSA), and
having received the in-principal approval, the company will launch
operations very soon. "This operational expansion will broaden
the global payment reach for UAE-based businesses from the very
first day, providing them with a competitive edge and opportunities
for business growth", he explains.
About TerraPay:
TerraPay simplifies global money movement - by providing a
single connection to the most expansive cross-border payments
network regulated in 31 global markets and enabling payments to 144
receive countries, 210+ send countries, 7.5Bn+ bank accounts and
2.1Bn+ mobile wallets. TerraPay is on a mission to connect a
borderless financial world, making moving money everywhere instant,
reliable, transparent, and fully compliant. TerraPay pushes the
boundaries for global businesses – ranging from banks, fintechs and
money-transfer operators to travel businesses, creator economy
platforms and e-commerce marketplaces – while driving financial
inclusion in even the most inaccessible markets. Founded in 2014,
TerraPay is headquartered in London, with global offices in Bangalore, Dubai, Miami,
Bogota, Dar es Salaam,
Kampala, Hague, Dakar,
Joburg, Nairobi, Milan, Singapore and is expanding rapidly, having
received funding from leading investors, including the IFC (the
World Bank), Prime Ventures, Partech Africa, and Visa.
About Multipass:
Multipass a part of Dyninno Group of Companies, is a
bank challenger that provides modern financial solutions for
businesses with cross-border activity. It offers a multi-currency
business account with an instant FX desk and a corporate card that
allows international companies to manage their bank transfers in
foreign markets in a simple way. Multipass's customer offering
includes local UK, US, and EU (European Union) accounts, as well as
a single multi-currency IBAN supporting over 70 currencies and 200
global payment destinations. The company was founded in 2017 and is
led by Dmitry Tsymber.
Media Contact:
juveria.n@terrapay.com
Logo:
https://mma.prnewswire.com/media/1222771/TerraPay_Logo.jpg
View original
content:https://www.prnewswire.co.uk/news-releases/new-opportunities-for-international-businesses-terrapay-partners-with-multipass-302135467.html