PR83860

AMSTERDAM, April 29, 2020 /PRNewswire=KYODO JBN/ --

In a welcome move, and against worldwide news of salary cuts and

retrenchments, TerraPay (https://www.terrapay.com/) today announced the

recruitment of six senior level positions across North America, East-Africa,

Middle-East and Asia, showing how the company is very well placed to combat the

challenges posed during the current world crisis caused by the COVID-19

pandemic.

TerraPay, backed by Prime Ventures, Partech and IFC, has been setting up

digital payments infrastructure across the globe since 2015. These investors

invested $9.6 million in TerraPay in March this year. This has put TerraPay in

a good position to continue to help its partners to allow their customers to

send real-time digital remittances to their loved ones. The company has created

digital payments infrastructure across more than 100 countries and during these

difficult times when the cross border remittances become the biggest source of

income and survival for the households, TerraPay has been actively working with

its partners to ensure that the money can be sent directly into the mobile

wallets and bank accounts. Whenever the money is sent directly to the mobile

wallets, it can mean that somewhere in a remote village in Rwanda, a lady would

not have to step out of house during the pandemic to collect cash from any kind

of queue. She can directly receive and send the money in the mobile wallet to

pay for groceries or medicine or even transfer the money further to her ailing

sister and her family in another village. TerraPay uses its licenses in more

than 14 countries around the world and partnerships with Mobile network

operators, banks and money transfer operators to ensure that the money keeps

moving even if people can't.

Ambar Sur, founder and CEO of TerraPay commented, "We understand that we

have a huge role to play when it comes to making sure that the money keeps

flowing across borders despite the restrictions. The seamless flow of payments

and remittances is our way of serving the financially underserved and

disadvantaged during these difficult times. We are using these times to ensure

that we build our capabilities in this new world order and in order to do that

I am very happy to announce the addition to the TerraPay family in N. America,

East-Africa, Middle-East and Asia. These announcements are also a statement of

belief in our business model of digital payments away from cash which we have

been pursuing since inception and which has been backed up by institutions like

IFC, Prime and Partech."

The six managers recruited are:

Sheshagiri Malliah (Sukesh) as Regional Director for Asia;

Philip Daniel as Regional Director for North America;

Rizwan Qazi as VP - Payments Partnerships and Special Projects;

Bassem Awada as VP - Global for Strategic Accounts and Partnerships;

Prabakaran K Arumugam as Director - Revenue Assurance;

Willie Kanyeki as Regional Director for East Africa.

For more info on new appointments - CLICK

Press Contact:

Saurabh Ranjan

saurabh@terrapay.com

Logo: https://mma.prnewswire.com/media/1161558/TerraPay_Logo.jpg

Source: TerraPay