Visa and TerraPay Partner to Drive Real-time Payments Interoperability
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
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