TerraPay partners with MOVii to pave the way for seamless cross-border payments for Colombian residents and diaspora across the world
PR91794
THE HAGUE, Netherlands, Sept. 21, 2021 /PRNewswire=KYODO JBN/ --
Embarking on the first step to enter the Colombian region for enabling
cross-border digital payments, TerraPay,a global payments infrastructure
company today announced a strategic partnership with MOVii, a leading mobile
wallet service that allow both banked and unbanked Colombians to do financial
transactions from their mobile phone, with ease, convenience and security.
This collaboration is envisioned in phases with an aligned objective to
transform the way Colombian residents and diaspora across the world send and
receive money digitally.
The first array of the partnership would enable Colombian diaspora residing
in countries such as North America, Europe, including a whole suite of
TerraPay's 153 send partner countries, to transfer instant payments to their
family and friends in Colombia through MOVii mobile wallet payouts. This opens
up an incremental opportunity to connect TerraPay's 500Mn+ mobile wallet
partner customers globally, with MOVii's mobile wallets in the region.
Following up with the next milestone in the coming months, TerraPay would
be bringing together a similar interoperability platform to enable Colombian
residents to receive instant money transfers from their family and friends
residing globally, into bank account payouts. The strategic partnership plans
are in the process. To further empower Colombian residents to feel independent
and resilient, the third phase builds the outbound money transfer channels to
TerraPay's well entrenched 79 receive partner countries.
Committed to achieving key SDG goals in alignment to both the company's
investor - IFC's vision to 'End extreme poverty by 2030', and 'Boosting shared
prosperity', this partnership drives financial inclusion, independence and
resilience for MOVii's 1.7 million Colombian users - both residents and
diaspora globally.
Speaking on the launch of the partnership, Ricardo Madronero, Regional
Manager– LATAM region, TerraPay stated, "Our partnership with MOVii is the
starting means to accelerate the growing opportunity for inbound remittances
from Colombian diaspora globally. TerraPay's industry benchmarked
interoperability engine will seamlessly connect an impressive count of over 1.7
million MOVii mobile wallet users to receive instant funds, with credibility.
An exciting path ahead with many more such collaborations to enhance and deepen
multi payment channel connections and usage, globally."
"We are proud to partner with TerraPay, in further empowering our existing
mobile wallet users to do more than just transact digitally. Now, they can also
receive instant cross-border money transfers from their family residing at any
of TerraPay's extensive global partner network send countries. For diaspora,
the partnership facilitates them to be connected to their family back home,
with a simple and cost effective means of sending money home, " said Hernando
Rubio, CEO and Co-founder, MOVii.
TerraPay has established itself as a global Partner to leading banks, 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 over
15 countries around the world. Some of the company's key markets include; GCC;
North, South and Central Africa; Europe and SE Asia; Central, North and South
Americas.
About TerraPay
TerraPay is a licensed digital payments infrastructure and solutions
provider, paving the global payments highway. The company's robust foundation
and innovative platform technology serve as the digital interoperability engine
enabling customers and businesses globally to send and receive payments on a
secure, transparent, efficient, and real-time basis. The agile network supports
diverse payment instruments and types of payments while adhering to complex
regulations and compliance standards in different markets.
For more information, please visit terrapay.com
Press Contact:
Anwesha Mukherjee,
+91-971-724-1606
About MOVii
MOVii is the most amazing challenger bank in Colombia, focused on changing
the banking category, by improving the financial inclusion of those who have
never been on the system and giving them the opportunity to manage their money
as they wish to through an app and card.
MOVii is moving forward with a disruptive, hassle-free value proposal that
connects with people, with their financial needs and responds to their lack of
access to banking. With this model, MOVii is projected to grow up to 3MM users
during 2021 leading digital banking in Colombia.
For more information, please visit www.movii.com.co
Press Contact:
Natalia Garcia Campo
natalia.garcia@moviired.co
Logo: https://mma.prnewswire.com/media/1629781/MOVii_Logo.jpg
Logo: https://mma.prnewswire.com/media/1222771/TerraPay_Logo.jpg
Source: TerraPay
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