Sowing the Seeds for Faster, Reliable, and Safer Global Payments
Sowing the Seeds for Faster, Reliable, and Safer Global Payments
Introduction
Pula Advisors is an agricultural insurance and technology company that designs and delivers innovative agricultural insurance and digital products to help smallholder farmers endure yield risks, improve their farming practices, and bolster their incomes over time.
The company has a vast network of independent field agents. These independent agents are tasked with providing data and analysis used by the insurance companies. The insurance policies are agreed upon with Pula’s clients before the field agents are appointed, and the data provides information regarding farming yields. Pula trains all its employees on AML & bribery annually, and they have a global policy that applies to all Pula entities. Additionally, Pula performs quality assurance on the agents. All field agents enter contracts with Pula and need to be paid in line with their agreed contracts. They needed assistance not only in making these payments but doing so in a secure, quick, affordable, and reliable manner.
The Challenge
Delayed payment processes
As Pula’s network of agents was growing, so was the volume of payments. Unfortunately, the company was unable to meet the demands of faster and safer payments due to the complexities surrounding global payments.
Complex integration
Pula recognised the significant technical challenges involved in integrating with multiple partners across markets and was on the lookout for a partner who could help simplify this process, allowing them to make payments across the globe seamlessly.
Why TerraPay
Reduced Transaction Times
With TerraPay’s payout solution, Pula has been able to speed up their global payouts to wallets and accounts. Leveraging our robust infrastructure, the company now facilitates payouts to their agents in a matter of minutes—without worrying about high costs, lack of visibility, or payment delays, and risks.
Greater Efficiency and Ease
Our in-house partner portal enabled Pula to go live with TerraPay without any integration required from their side, ensuring operational ease. By configuring the two-step/maker-checker process on our setup, Pula has been able to minimize risks, enjoy greater visibility and successfully make bulk transactions.
Wider reach
Observing the positive impact of partnering with TerraPay on their business, Pula has been able to add new countries for their payouts, thereby expanding their reach
The Result
Ensuring safer payments across continents in a matter of minutes.
- Ghana
- Zimbabwe
- Ivory Coast
- Madagascar
- Uganda
- Bangladesh
- Tanzania
- Mozambique
150 k
in transaction volume
Processed to wallets and accounts, spanning 1.3K transactions to some of the most remote markets in the world.
75 k
in value
Processed in July 2024 alone
“Our partnership with TerraPay has enabled us to make quicker payments to our agents across borders. However, the ability to do this in a safe and simple manner, while addressing the unique challenges of the regions we need to reach, is what makes all the difference; it doesn’t just impact the lives of our agents but also positively affects our business.”
“Globally, the demand for faster payments is rising. Partnering with us has enabled Pula Advisors to meet this demand effectively without compromising on compliance, security, and operational efficiency.”
150 k
in transaction volume
Processed to wallets and accounts, spanning 1.3K transactions to some of the most remote markets in the world.
75 k
in value
Processed in July 2024 alone
