Dubai, UAE – PayPal has partnered with TerraPay to enhance the ease and accessibility of cross-border payments in the Middle East and Africa. This collaboration will enable real-time transfers for PayPal customers, connecting mobile wallets, banks, and financial institutions in both regions. The goal is to make transactions faster, more secure, and more inclusive, thus stimulating economic growth.
With the MENA digital payments market projected to grow significantly in the coming years, the partnership addresses the region’s need for efficient payment solutions. By linking PayPal accounts securely with TerraPay’s platform, users can now transfer funds effortlessly from mobile wallets and bank accounts across the Middle East and Africa.
Otto Williams, Senior Vice President of PayPal’s Middle East and Africa division, expressed that while the region is advancing digitally, financial barriers still hinder many individuals and businesses. “This partnership with TerraPay aims to break down those barriers, allowing users to send and receive payments quickly and securely,” Williams stated.
Through the collaboration, customers will experience improved financial connectivity, enabling seamless international transactions and fostering greater financial inclusion. This move is expected to help businesses and individuals fully participate in the global digital economy.
Ani Sane, Co-Founder and Chief Business Officer at TerraPay, described the partnership as a significant step towards overcoming traditional banking limitations. He pointed out that TerraPay’s infrastructure, which connects a variety of financial systems, ensures that businesses and individuals can transact effortlessly on a global scale.
