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