Latest news with #TerraPay
Finextra
18 hours ago
- Business
- Finextra
TerraPay secures Class B License from Bank Negara Malaysia
TerraPay, a global leader in digital cross-border payments, today announced that it has been granted a Class B license by Bank Negara Malaysia (BNM). 0 This development marks a pivotal step in TerraPay's expansion across Southeast Asia, reinforcing its commitment to enabling secure, real-time, and compliant cross-border payment solutions in one of the region's most dynamic financial hubs. Malaysia stands as one of the largest cross-border remittance and trade corridors in the Asia-Pacific region. With the new license, TerraPay is now well-positioned to support the country's growing demand for efficient and transparent cross-border financial services. The license enables TerraPay to directly partner with Malaysian banks, licensed payment institutions, and enterprises to facilitate seamless inbound and outbound remittances, B2B payments, and wallet payouts. It also empowers TerraPay to deepen its collaboration with local financial institutions and fintechs, offering them access to its robust, interoperable, and API-driven payment infrastructure. This will enable partners to scale their cross-border offerings with confidence, while ensuring compliance with Malaysia's regulatory standards. "This license reinforces TerraPay's commitment to building a seamless and compliant payments ecosystem across APAC. Malaysia is a key market, and we are excited to deepen partnerships that drive financial inclusion and innovation,' said Ambar Sur, Founder & CEO of TerraPay. Sukesh Malliah, Vice President (APAC) at TerraPay said, 'Securing the Class B license from Bank Negara Malaysia is a proud milestone in TerraPay's APAC journey. Malaysia is a strategic market with immense potential for cross-border remittances and trade. This license empowers us to directly collaborate with local banks and financial institutions, delivering real-time, secure, and compliant payment solutions. We remain committed to driving financial inclusion and innovation across the region, while enabling our partners to scale confidently across borders.' Aligned with Malaysia's digital financial inclusion goals, TerraPay's infrastructure is designed to be future-ready, supporting real-time transactions, enhancing customer experience, and promoting financial access for underserved communities. The company's technology-first approach ensures that partners can integrate quickly and scale efficiently. As a licensed entity under BNM, TerraPay reaffirms its dedication to upholding the highest standards of compliance, customer protection, and innovation. This milestone further strengthens TerraPay's global regulatory footprint and underscores its mission to simplify global payments for everyone, everywhere.
Yahoo
a day ago
- Business
- Yahoo
TerraPay Secures Class B License from Bank Negara Malaysia to Strengthen Cross-Border Payments in APAC
KUALA LUMPUR, Malaysia, June 4, 2025 /PRNewswire/ -- TerraPay, a global leader in digital cross-border payments, today announced that it has been granted a Class B license by Bank Negara Malaysia (BNM). This development marks a pivotal step in TerraPay's expansion across Southeast Asia, reinforcing its commitment to enabling secure, real-time, and compliant cross-border payment solutions in one of the region's most dynamic financial hubs. Malaysia stands as one of the largest cross-border remittance and trade corridors in the Asia-Pacific region. With the new license, TerraPay is now well-positioned to support the country's growing demand for efficient and transparent cross-border financial services. The license enables TerraPay to directly partner with Malaysian banks, licensed payment institutions, and enterprises to facilitate seamless inbound and outbound remittances, B2B payments, and wallet payouts. It also empowers TerraPay to deepen its collaboration with local financial institutions and fintechs, offering them access to its robust, interoperable, and API-driven payment infrastructure. This will enable partners to scale their cross-border offerings with confidence, while ensuring compliance with Malaysia's regulatory standards. "This license reinforces TerraPay's commitment to building a seamless and compliant payments ecosystem across APAC. Malaysia is a key market, and we are excited to deepen partnerships that drive financial inclusion and innovation," said Ambar Sur, Founder & CEO of TerraPay. Sukesh Malliah, Vice President (APAC) at TerraPay, said, "Securing the Class B license from Bank Negara Malaysia is a proud milestone in TerraPay's APAC journey. Malaysia is a strategic market with immense potential for cross-border remittances and trade. This license empowers us to directly collaborate with local banks and financial institutions, delivering real-time, secure, and compliant payment solutions. We remain committed to driving financial inclusion and innovation across the region, while enabling our partners to scale confidently across borders." Aligned with Malaysia's digital financial inclusion goals, TerraPay's infrastructure is designed to be future-ready, supporting real-time transactions, enhancing customer experience, and promoting financial access for underserved communities. The company's technology-first approach ensures that partners can integrate quickly and scale efficiently. As a licensed entity under BNM, TerraPay reaffirms its dedication to upholding the highest standards of compliance, customer protection, and innovation. This milestone further strengthens TerraPay's global regulatory footprint and underscores its mission to simplify global payments for everyone, everywhere. About TerraPay TerraPay simplifies global money movement, providing a single connection to one of the most expansive cross-border payment networks regulated in over 30 global markets. The platform enables payments to 150+ receiving countries, 210+ sending countries, over 3.7 billion mobile wallets, 7.5 billion bank accounts, and more than 12 billion cards. TerraPay is on a mission to create a borderless financial world, making money transfers instant, reliable, transparent, and fully compliant. Founded in 2014, TerraPay has built the global digital wallet interoperable network, driving financial inclusion even in the most remote markets. TerraPay is headquartered in London, with offices in cities like Bangalore, Dubai, Bogota, Dar es Salaam, Kampala, and Singapore. Backed by leading investors including the IFC (World Bank), Prime Ventures, Partech Africa, and Visa, TerraPay continues its rapid global expansion. View original content: SOURCE TerraPay Sign in to access your portfolio
Yahoo
6 days ago
- Business
- Yahoo
TerraPay teams up with Wave Mobile Money for cross-border remittances
TerraPay, a company specialising in global money transfers, has joined forces with Wave Mobile Money to support cross-border remittance services. The move allows Malians to receive international remittances into their Wave mobile wallets, streamlining the process of accessing funds from abroad. The collaboration integrates TerraPay's global payment network with remittance flows from Money Transfer Operators across North America and Europe into Mali. This integration is designed to provide instant receipt of funds for Wave users in Mali, aiming to strengthen financial inclusion and present a secure alternative to informal remittance channels. The partnership leverages the TerraPay's payments infrastructure and the remittance service expertise of Orabank Mali, in conjunction with Wave Money's mobile platform. Wave Mobile Money business development regional head Karamokho Badiane said: 'We are excited to join forces with Orabank Mali and TerraPay to revolutionise payment solutions and enhance financial accessibility for our customers. 'Our shared commitment to financial inclusion will help break down barriers and offer more accessible solutions for individuals across the country. With TerraPay's cutting-edge technology ensuring safe and reliable money transfers, we are confident that this initiative will play a crucial role in fostering economic growth and financial empowerment.' TerraPay Sub Sahara Africa vice president Willie Kanyeki stated: 'Our partnership with Wave Mobile Money marks a significant milestone in our mission to power borderless money movement. By enabling instant, cost-effective, and fully compliant remittances from key markets like the US, Canada, and Europe, we are simplifying financial access and driving financial inclusion in Mali.' Last month, TerraPay partnered with PayPal to offer real-time fund transfer capabilities to customers in the Middle East and Africa. "TerraPay teams up with Wave Mobile Money for cross-border remittances " was originally created and published by Electronic Payments International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Cision Canada
7 days ago
- Business
- Cision Canada
TerraPay and Wave Mobile Money Partner to Enable Remittances to 2.5 Mn Active Digital Wallet Users
BAMAKO, Mali, May 29, 2025 /CNW/ -- In a strategic move to enhance cross-border remittance services in West Africa, TerraPay, a global money movement company, has partnered with Wave Mobile Money, one of the country's leading mobile money providers. This partnership enables Malians to receive money from family and friends abroad directly into their Wave mobile wallets, creating a faster, more accessible, and cost-effective way to access international remittances. Through this collaboration, TerraPay's global payment network now facilitates remittance flows from multiple Money Transfer Operators (MTOs) across the US, Canada, and Europe to Mali, all through a single streamlined integration. This unique model ensures that all Wave users in Mali can instantly receive funds, further strengthen financial inclusion and offer a secure alternative to informal remittance channels. Over 80% of Mali's population uses mobile phones, with many using them for mobile money and digital wallets. In the region, digital wallets are an essential tool for financial inclusion, providing access to financial services for millions of people, especially those who are unbanked. With mobile money platforms leading the way, the landscape is evolving rapidly. Speaking on this partnership, Karamokho Badiane, Regional Head of Business Development at Wave Mobile Money, said: "We are excited to join forces with Orabank Mali and TerraPay to revolutionize payment solutions and enhance financial accessibility for our customers. This strategic collaboration allows us to harness TerraPay's global payments infrastructure alongside Orabank Mali's deep expertise in remittance services, empowering us to expand our reach and provide even greater value to our users. Our shared commitment to financial inclusion will help break down barriers and offer more accessible solutions for individuals across the country. With TerraPay's cutting-edge technology ensuring safe and reliable money transfers, we are confident that this initiative will play a crucial role in fostering economic growth and financial empowerment." Willie Kanyeki, Vice President - Sub Sahara Africa at TerraPay, echoed this sentiment, saying, "Our partnership with Wave Mobile Money marks a significant milestone in our mission to power borderless money movement. By enabling instant, cost-effective, and fully compliant remittances from key markets like the US, Canada, and Europe, we are simplifying financial access and driving financial inclusion in Mali." With this partnership, TerraPay and Wave Mobile Money are making it easier than ever for Malians abroad to support their families back home, reinforcing the role of digital financial services in shaping the future of remittances in West Africa. About Wave Mobile Money in Mali: Wave Mobile Money is a fintech company founded in 2018, now leading mobile money services provider in West Africa operating in seven countries (Senegal, Côte d'Ivoire, Uganda, Gambia, Sierra Leone, Mali and Burkina Faso). Wave's mission is to promote financial inclusion by building a radically inclusive and extremely affordable financial network. Operating in Mali since 2021, Wave has the ambition of making Africa the first cashless continent, using technology to develop services that facilitate daily transactions and payments for millions of users across the continent. Our services include domestic and cross-border transfers, bill payments, business services. TerraPay simplifies global money movement, providing a single connection to one of the most expansive cross-border payment networks regulated in over 30 global markets. The platform enables payments to 150+ receiving countries, 210+ sending countries, over 3.7 billion mobile wallets, 7.5 billion bank accounts, and more than 12 billion cards. TerraPay is on a mission to create a borderless financial world, making money transfers instant, reliable, transparent, and fully compliant. Founded in 2014, TerraPay has built the global digital wallet interoperable network, driving financial inclusion even in the most remote markets. TerraPay is headquartered in London, with offices in cities like Nairobi, Bangalore, Dubai, Bogota, Dar es Salaam, Kampala, and Singapore. Backed by leading investors including the IFC (World Bank), Prime Ventures, Partech Africa, and Visa, TerraPay continues its rapid global expansion.
Finextra
7 days ago
- Business
- Finextra
Terrapay enables ccross-border remittances for Wave Mobile Money users in Mali
In a strategic move to enhance cross-border remittance services in West Africa, TerraPay, a global money movement company, has partnered with Wave Mobile Money, one of the country's leading mobile money providers. 0 This partnership enables Malians to receive money from family and friends abroad directly into their Wave mobile wallets, creating a faster, more accessible, and cost-effective way to access international remittances. Through this collaboration, TerraPay's global payment network now facilitates remittance flows from multiple Money Transfer Operators (MTOs) across the US, Canada, and Europe to Mali, all through a single streamlined integration. This unique model ensures that all Wave users in Mali can instantly receive funds, further strengthen financial inclusion and offer a secure alternative to informal remittance channels. Over 80% of Mali's population uses mobile phones, with many using them for mobile money and digital wallets. In the region, digital wallets are an essential tool for financial inclusion, providing access to financial services for millions of people, especially those who are unbanked. With mobile money platforms leading the way, the landscape is evolving rapidly. Speaking on this partnership, Karamokho Badiane, Regional Head of Business Development at Wave Mobile Money said: 'We are excited to join forces with Orabank Mali and TerraPay to revolutionize payment solutions and enhance financial accessibility for our customers. This strategic collaboration allows us to harness TerraPay's global payments infrastructure alongside Orabank Mali's deep expertise in remittance services, empowering us to expand our reach and provide even greater value to our users. Our shared commitment to financial inclusion will help break down barriers and offer more accessible solutions for individuals across the country. With TerraPay's cutting-edge technology ensuring safe and reliable money transfers, we are confident that this initiative will play a crucial role in fostering economic growth and financial empowerment.' Willie Kanyeki, Vice President - Sub Sahara Africa at TerraPay, echoed this sentiment, saying, 'Our partnership with Wave Mobile Money marks a significant milestone in our mission to power the borderless money movement. By enabling instant, cost-effective, and fully compliant remittances from key markets like the US, Canada, and Europe, we are simplifying financial access and driving financial inclusion in Mali.' With this partnership, TerraPay and Wave Mobile Money are making it easier than ever for Malians abroad to support their families back home, reinforcing the role of digital financial services in shaping the future of remittances in West Africa.
