The Hague, Netherlands, December 21, 2020: TerraPay, a global payments infrastructure company, and URemit, a money services business provider, have announced a partnership for ushering in the benefits of financial inclusion through digital cross border remittances, for beneficiaries spread across Asia, Africa, and Europe.
The partnership will enable the beneficiaries in countries such as Mali, Malawi, DRC, Cameroon, and others, who are not able to access the traditional cross border remittances channels like bank accounts and cash will be able to receive remittances directly into their mobile wallets.
Regulated in over 45 countries around the world, TerraPay 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.
Speaking on the launch of the partnership, Mohammad Ahsin Ashraf, Director, URemit stated, “We are pleased to associate with TerraPay in enabling digital cross border remittances for beneficiaries spread across the three major continents.”
Mudassir Khan, E.D. & C.O.O., URemit spoke on the announcement, “We will benefit immensely from TerraPay’s extensive global payments network for delivering cross-border remittances into the mobile wallets and bank accounts in a seamless, secure and efficient manner.”
“Remittance influxes are the lifeline of many countries across these three continents. In fact, in 2019, the World Bank projected that $715 billion was sent by the global migrant community to their friends and families. In the recent past, however, the economic crisis caused by the COVID-19 pandemic has had a major impact on remittance flow and this has affected the economic health of many geographies. Owing to this partnership, the Asian, African, European diaspora living in Canada, The Middle East, and other regions that URemit is present in, will have the option to send real-time cross-border remittances into mobile wallets and bank accounts of their loved ones.” said Saurabh Ranjan, Regional Director MENA, TerraPay.
TerraPay is a licensed digital payments infrastructure and solutions provider, paving the global payments highway. The company’s robust foundation and innovative platform technology serve as the digital interoperability engine enabling customers and businesses globally to send and receive payments on a secure, transparent, efficient, and real-time basis. The agile network supports diverse payment instruments and types of payments while adhering to complex regulations and compliance standards in different markets.
For more information, please visit uremit.ca.
For press Contact: Anwesha Mukherjee,