Through this partnership, both companies want to simplify the complexity of cross-border payment transactions. The partners’ aim to improve the way Mongolians receive and send real-time payments. Mongolian customers will be able to receive remittances from major corridors like UK, USA, Austria, Belgium, Czech Republic, France, Germany, Kazakhstan, Poland, Sweden, and Switzerland and also access major sending corridors like Australia, Canada, China, Denmark, Japan, and the USA.
The collaboration will facilitate P2P, P2B, B2P, and B2B transactions enabling diaspora residents to make low-cost, real-time transactions to beneficiaries in Mongolia. According to a TerraPay representative, this partnership will enable the payments infrastructure company to deploy its technical solutions globally and offer Mongolian residents around the world cross-border payment options.
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