TerraPay and UBA expand cross-border money transfer alliance

Friday 20 December 2019 14:21 CET | News

Payment network TerraPay and financial services group UBA have expanded their alliance to bring cross-border money transfer services to customers in 20 African markets.

At present, the real-time remittance service is live for UBA in Ghana, Cameroon, Burkina Faso, Cote d’ivoire and Sierra Leone.

The service will now be extended to the bank’s units in 15 other countries in Africa, including Liberia, Congo and Uganda.

TerraPay received a licence from the Bank of Uganda in 2017 to enable cross-border money transfers to mobile wallets. In addition, the company secured similar approvals in Kenya and Tanzania.

Apart from additional African markets, TerraPay has a licence in the UK for cross-border remittances to mobile wallets.

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Keywords: TerraPay, UBA, cross-border, money transfer, remittance
Categories: Banking & Fintech
Countries: Africa
This article is part of category

Banking & Fintech