TerraPay and Wari have signed a strategic partnership agreement that will strengthen the remittances ecosystem in 35 key African markets.
The partnership is aimed at interconnecting the global money transfer operators with mobile wallets and bank accounts in Africa. With this partnership, Wari’s customers across Africa can send money to TerraPay’s network of mobile wallets in Africa and all bank accounts in India in real time.
In addition, TerraPay’s global partners with a presence in 160 countries will be able to send remittances instantly to Wari’s digital payments network including mobile wallets and bank accounts across 35 African markets.
“Our partnership aids in realising a vision for low-cost and convenient money transfers in Africa and accelerating the creation of an ecosystem to deliver essential value to stakeholders and consumers alike. TerraPay is committed to provide the state-of-the-art technology and regulatory infrastructure to its partners” explains Ambar Sur, Founder & CEO, TerraPay.
“Our goal is to make our services available to everyone, wherever you may be. The partnership with TerraPay now opens the Indian market to Wari’s customers and allows TerraPay’s customers to access Wari’s extended network in Africa and around the world,” said Kabirou Mbodje, Wari’s CEO.
Wari has transformed the development and access to financial services across Africa, particularly in West African countries like Senegal, Togo, Ivory Coast, Mali, Benin, Niger and Burkina Faso. The group handles over a million transactions daily through its direct and partner networks, with over 500,000 agents spread across 60 countries.
TerraPay is architecting a new model by interconnecting mobile wallets and existent digital financial service providers whilst assuming complete responsibility for obtaining and/or ensuring adherence to all regulatory requirements for conducting business.