Xpress Money and TerraPay partner on mobile wallets in Africa
Mobile payments wallet TerraPay will partner with Xpress Money to enable real-time international money transfers to African mobile wallets beginning in Nigeria, before a wider roll-out. As well as helping migrant workers send money securely to friends and family, the deal is also set to lower costs for customers and increase inclusion, according to Ambar Sur, CEO of TerraPay. She said: "In Africa today, mobile wallets are seen as a virtual bank account that enable customers to pay bills and transact. They work exceptionally well in places where the physical network of banks is limited."
Muscat: Xpress Money, one of the world’s most dependable money transfer brands, has partnered with TerraPay to enable real-time international money transfers to mobile wallets in Africa.

Powered by TerraPay’s global clearing and settlement service for mobile wallets, the partnership will make it faster and convenient for Xpress Money consumers to send money to mobile accounts, in real time.

Through Xpress Money’s extensive network of over 200,000 agent locations in 165 countries, migrants across the globe will be able to send remittances safely and instantly to widely used Mobile Money services in Africa. In the initial rollout, customers can send remittances to any mobile number or bank account in Nigeria, as well as directly to Vodacom M-Pesa, Tigo Pesa, Airtel Money and Zantel Ezy Pesa wallets in Tanzania, by visiting the nearest Xpress money outlet across 165 countries.

“TerraPay has brought mobile wallets mainstream by interconnecting them with an extensive global network of Xpress Money for cross border money transfer. Our partnership will play a pivotal role in expanding our footprint into new markets and help friends and families of migrant workers receive small value remittances frequently through a cost-effective and convenient service,” said Ambar Sur, founder and chief executive officer of TerraPay.

“The convenience of mobile wallets is slowly changing our customers’ remittance patterns.”

Its advantages are not just restricted to convenience, but also extend to offering customers lower fees and financial inclusion. In Africa today, Mobile Wallets are seen as a virtual bank account that enable customers to pay bills and transact, just like using a physical bank account; they work exceptionally well in places where the physical network of banks is limited. Xpress Money is therefore constantly investing in the mobile services space—either through in-house innovations or by partnering with existing providers with proven technologies, such as TerraPay to bring convenient remittance solutions to a wider audience,” said Sudhesh Giriyan, chief operating officer, Xpress Money.

TerraPay has also partnered with Paga, Nigeria’s pioneering payments and financial services company and Selcom, a leading mobile money aggregator in Tanzania to launch cross border remittances to mobile money accounts in Nigeria and Tanzania, respectively.