Money transfer company Instant Cash partnered international remittance provider TerraPay to expand its customer base in three key African countries by providing cross-border mobile payments.
Instant Cash said the collaboration will enable it to grow its user bases in Nigeria, Tanzania and Uganda by providing international transfers to mobile wallets. The company is using TerraPay’s technology to enable its global network of agents to deliver cross-border transfers, and so expand the range of services available from Instant Cash’s global network of agents.
In Nigeria, TerraPay’s global clearing and settlement service is being used to enable migrants to send money to any mobile number or bank account. Tanzanian users gain the ability to send payments directly to mobile wallet services including Vodacom’s m-Pesa, Tigo Pesa, Airtel Money, and Zantel Ezy Pesa. In Uganda, the system enables transfers into MTN and Airtel Money wallets.
TerraPay founder and CEO, Ambar Sur, said the partnership will make “cross-border remittances faster, accessible and cheaper” for consumers and help boost financial inclusion.
Future expansion will target other countries in Africa where adoption of mobile money services is high, a TerraPay statement revealed.
TerraPay agreed the deal less than a fortnight after receiving Bank of Uganda clearance to provide mobile wallet transfer services in the country.