PR92459

THE HAGUE, Netherlands, Oct. 20, 2021 /PRNewswire=KYODO JBN/--

TerraPay, a global payments infrastructure company, today announced the

partnership with LuLu International Exchange, part of the LuLu Financial Group-

a leading global financial services provider. This strategic collaboration will

enable LuLu's customers to network key global corridors such as USA, Canada,

the subcontinent countries, key African countries like Kenya, Tanzania, Ghana,

Uganda, Nigeria, China, Vietnam,  Indonesia, Europe with SEPA payments and the

United Kingdom to receive secure and low-cost cross-border money transfers from

UAE. This partnership will allow TerraPay to access  LuLu Exchange's 5 million+

customer base.

Photo - https://mma.prnewswire.com/media/1665012/Lulu.jpg

Logo - https://mma.prnewswire.com/media/1222771/TerraPay_Logo.jpg

According to World Bank report, UAE was the second-largest source of

remittances globally in 2020, followed by Saudi Arabia.

(https://www.arabnews.com/node/1858201/business-economy ) LuLu international

exchange, with one of the largest network of agents and an impressive base of

captive customers using the LuLu Money app, remains at the forefront of

cross-border remittances in the Middle East region.

Commenting on the relationship, Saurabh Ranjan, Regional Director, Middle East,

TerraPay, said," We are delighted to partner with LuLu International Exchange.

Our partnership with LuLu opens instant bank and mobile wallet payment

facilities to key corridors in Africa, Europe, Americas and Asia adding greater

coverage and efficiency to LuLu Money, through LuLu Exchange's retail or

digital channels. Through this association, LuLu customers will be able to

access instant/same day credit to UK, Asia, Europe and Africa with no backend

or hidden charges.  Our alliance is another example of the impact our digital

interoperable payment network has across regions. We are driving greater access

to financial services globally for all our partners and customers"

Speaking about the partnership Adeeb Ahamed, Managing Director, LuLu Financial

Group commented," We are pleased to partner with TerraPay. TerraPay's extensive

global payments network partners and infrastructure will play an instrumental

role in facilitating cross-border remittance flows securely, transparently,

efficiently, and in real-time.  We believe in collaborative partnerships and

application of technology and  we are committed  to provide instant, reliable

and cost-effective payments to our customers "

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

foster financial inclusion, and drive the adoption of cashless payments.

About TerraPay

Headquartered in Amsterdam, TerraPay is a licensed digital payments

infrastructure and solutions provider. Since 2014, the company has been

building an ever-expanding payments highway that empowers businesses with an

uninterrupted, secure, and real-time global passage for every payment, however

small or large. Registered and regulated across 15 global markets, TerraPay is

a leading global partner to banks, mobile wallets, money transfer operators,

merchants, and financial institutions, creating a rich payment ecosystem that

supports a range of diverse payment types and instruments. With a single

integration, the company connects their partners to this deep-rooted global

network, backed by strong compliance and security standards

For more information, visit: terrapay.com  

About LuLu Financial Group

LuLu Financial Group, of which LuLu Exchange is a part of, is a global

financial services provider headquartered in Abu Dhabi and operating over 235

branches in 11 countries across markets in the GCC, APAC and Indian

sub-continent. The company has investments in varied digital and non-digital

financial services & products geared to improve people's lives, with a vision

to innovate value and inspire experiences in the markets in which it operates.

For more information visit: https://luluexchange.com/

Anwesha Mukherjee

anwesha@terrapay.com  

+91-9717241606

SOURCE:  TerraPay