Following this announcement, the companies aim to make international remittances more accessible, secure, and convenient for Filipino customers across the globe. Clients of the Maya application will be enabled to benefit from convenient seamless money transfers from Korea, Singapore, the USA, and the Middle East through TerraPay’s extensive global network.
In addition, TerraPay and Maya will focus on optimising the customer experience while also ensuring the security of transactions and offering faster transfer times, competitive exchange rates, and overall affordable borderless payment options. By leveraging TerraPay’s adaptable payments technology, Maya will be allowed to expand its network of clients in order to access convenient cross-border payment methods.
UK-based firm TerraPay offers its partners and customers a secure payments network that aims to give businesses and companies the possibility to develop transparent and safe user experience, with an uninterrupted and real-time global passage for each transaction. The institution announced multiple collaborations and product launches in the last couple of months, covering several different geographic areas around the world.
In November 2023, payments company Magnati partnered with TerraPay in order to provide merchants and traders with an additional payment method. Following this strategic deal, African visitors and residents in the UAE were enabled to pay for goods and solutions by leveraging their preferred digital wallets. As part of the overall development plans, Magnati intended to drive improvement and security in the payments industry by using the 50.000 payment terminals that accept TerraPay-enabled wallets in Africa.
According to the press release published at the time, TerraPay was set to offer an extensive network and industry knowledge to this collaboration. Its position as a digital and mobile wallet aggregator allowed Telco Wallet holders from Africa to receive simple and safe cross-border payments in the UAE regions, at any Magnati payment terminals.
Earlier in October 2023, TerraPay announced its collaboration with Nequi by Bancolombia, in order to improve remittance for customers and users in Colombia. Throughout this strategic deal, the firms focused on enabling Colombians to receive remittances from their relatives, friends, and acquaintances in multiple countries around the world. The procedure was set to take place by leveraging a single secure and efficient connection.
In addition, the partnership focused on optimising the manner in which clients and individuals managed their money, as well as achieving their financial goals in a more accessible and fast manner. Nequi was expected to combine its financial expertise with TerraPay’s digital payment services in order to ensure that clients can access more financial products, as well as improve autonomy over their money.
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