PR84531

AMSTERDAM, June 24, 2020 /PRNewswire=KYODO JBN/ --

    - Both companies will work together to drive real-time digital remittances,

interoperability, financial inclusion and drive adoption of cashless payments

    TerraPay, a global payments infrastructure company, and Visa, have today

announced a strategic partnership that aims to develop and deliver payment

solutions to drive financial inclusion and cashless transactions for domestic

payments and global remittances.

    The TerraPay and Visa global partnership is aimed to develop and deliver

solutions to drive repeat consumption of the mobile wallets and digital

currency for digital payments and remittances.

    "We at TerraPay view the Visa partnership as a next step towards the

development of sustainable and scalable interoperable payment options for our

partners and their consumers' payment requirements," said Ambar Sur, Founder

and CEO of TerraPay.

    TerraPay has established itself as a global partner to leading 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. TerraPay is regulated in 45+

countries around the world.

    "We want our partners to remain focused on their customers' payment needs

and we assist them technologically to deliver payment solutions in an agile,

reliable, and secure method to fulfill their customer needs," said Ambar Sur,

Founder and CEO of TerraPay.

    Global m/e-commerce continues to evolve and is expected to reach $4,574

Billion by 2023, according to Allied Market Research, up from $601 billion in

2016. Interoperability with payment methods and seamless consumer journey to

conclude the transactions will be key focus to drive consumption.

    The partnership is part of Visa's global strategy to open up Visa's network

and support a broad range of players that are developing new commerce

experiences, and transitioning to digital channels..

    "Partnerships are fundamental to Visa's business model and we look forward

to collaborating  with TerraPay to drive seamless and interoperable financial

services and products to push much desired financial inclusion in our

communities," said Otto Williams, Vice President and Head of Strategic

Partnerships, Fintechs and Ventures in CEMEA at Visa. "Interoperability is key

to a digitally connected payments ecosystem and we are excited that TerraPay is

part of our growing Fintech Fast Track program as we work together to connect

more communities with these solutions."

    About TerraPay

    TerraPay is a licensed digital payments infrastructure and solutions

company helping connect diverse payment systems seamlessly to move funds in

real-time. We believe in the power of interoperability to transform financial

inclusion, and are building the digital payment rails to fulfill our vision of

being able to send money to any financial instrument.

    About Visa Inc.

    Visa Inc. (NYSE: V) is the world's leader in digital payments. Our mission

is to connect the world through the most innovative, reliable and secure

payment network - enabling individuals, businesses and economies to thrive.

Our advanced global processing network, VisaNet, provides secure and reliable

payments around the world, and is capable of handling more than 65,000

transaction messages a second. The company's relentless focus on innovation is

a catalyst for the rapid growth of connected commerce on any device, and a

driving force behind the dream of a cashless future for everyone,

everywhere. As the world moves from analogue to digital, Visa is applying

our brand, products, people, network and scale to reshape the future of

commerce. For more information, visit About Visa

(https://usa.visa.com/about-visa/our_business.html ) ,

https://usa.visa.com/visa-everywhere/blog.html and @VisaNews

    Media Contact

    Saurabh Ranjan

    saurabh@terrapay.com

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

    Source: TerraPay