- Since April 2020, TerraPay has
been facilitating inward international remittances to mobile
wallets into Uganda
- Now expanded focus for outbound digital remittances to key
international corridors
THE HAGUE, Netherlands,
Nov. 15, 2021 /PRNewswire/
-- TerraPay, a global payments infrastructure company, today
announced its association with MTN Mobile Money Uganda Limited, a
leading telecom operator in Uganda
and part of the MTN Group. The partnership will enable MTN
Mobile Money Uganda Limited in facilitating international digital
cross border remittances and speedy money transfers to
beneficiaries in regions such as India and China.
Since 2020, TerraPay has been offering inbound remittances
to MTN Mobile Money Uganda Limited's mobile wallets. In its
drive to build global payments highways that interconnect mobile
wallets and banks across the world, TerraPay aims to cultivate
inclusivity, independence, digital mobility and empowerment amongst
everyone, with the additional outbound remittance channels now
opened up.
Speaking on the occasion, Willie Kanyeki, Regional
Director, East and Southern
Africa, TerraPay said, "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.
Now, with the expanded partnership, we will be facilitating
outbound international remittance payment to countries such as
India and China. Beneficiaries, including friends and
family of migrants across these countries will now have access to
assured, real time and convenient, small value ticket remittances
channels connecting our global network of 4Bn+ Bank Accounts and
1.5Bn+ Mobile Wallets.
Commenting on the partnership, Stephen Mutana, MTN Mobile Money Uganda Ag.
Chief Executive Officer 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."
"We further believe that mobile money transfers should not be
limited to borders and the winner in all this, is the MTN Mobile
Money customer who will experience a seamless user experience
sending and receiving money from China and India, directly on their mobile phones."
Stephen went on to explain that MTN Mobile Money has been at the
forefront of driving financial inclusion in Uganda. The popularity of mobile money
transfer services continues to rise amongst Uganda's social and business population. This
is largely supported by the increasing adoption of mobile payments
as well as an increasing need for cashless transactions.
TerraPay's best-in-class interoperability engine and scalable
and agile technological prowess will aid partners and their
customers and businesses to send and receive payments on a fully
regulated, scalable, secure, transparent, and efficient
platform.
The Company has established itself as a global Partner to
leading banks, money Transfer operators, mobile wallet operators
and financial Institutions to facilitate digital transactions
without borders. As a B2B company, TerraPay partners with other
businesses and helps them leverage its agile, secure, and scalable
technology platform to enhance their customer proposition for
remittances, payments, and cross border spends. TerraPay has
footprints in over 94 countries around the world.
About TerraPay
Headquartered in Amsterdam,
TerraPay is a licensed digital payments infrastructure and
solutions provider. Since 2014, the company has been building an
ever-expanding payments highway that empowers businesses with an
uninterrupted, secure, and real-time global passage for every
payment, however small or large. Registered and regulated across 15
global markets, TerraPay is a leading global partner to banks,
mobile wallets, money transfer operators, merchants, and financial
institutions, creating a rich payment ecosystem that supports a
range of diverse payment types and instruments. With a single
integration, the company connects their partners to this
deep-rooted global network, backed by strong compliance and
security standards.
For more information visit https://www.terrapay.com/
About the MTN Uganda
MTN Uganda is a leading telecoms company in Uganda with a primary objective of carrying on
the business of a national operator of a telecommunications network
pursuant to the NTO license granted by the UCC. Among our offerings
are network services, digital and financial technology services,
interconnect and roaming, sale of mobile devices and MTN Mobile
Money (which is conducted through subsidiary MTN Mobile Money
Uganda Limited). MTN has a presence in all 134 districts of
Uganda. Our services are delivered
through a network of 119,077 Mobile Money agents, 200 service
stores and 13 main distributors. At end of June 2021, MTN Uganda had 14.9 million
subscribers, 8.6 million MoMo users and 4.7 million active data
users.
Visit us at www.mtn.co.ug or follow us on
www.youtube.com/mtnug and www.twitter.com/mtnug or
www.twitter.com/mtnugpro for assistance.
Media Contact:
Anwesha Mukherjee
anwesha@terrapay.com