Giant telecommunications company Safaricom has announced a partnership with TerraPay (Mobex Kenya) empowering more than 32 million M-PESA customers to send and receive money to more than 200 million people across Bangladesh and Pakistan.
TerraPay CEO Ambar Sur said the collaboration will spur the development of mobile financial service operators.
This will enable them to directly scale globally and provide customers with the choice to send payments in a secure, transparent, and swift manner.
Read: Former MTN Uganda CEO Appointed New Safaricom Ethiopia Boss
“Our partnership with Safaricom will further boost our capabilities in providing an inclusive global financial ecosystem with superlative technical solutions- cultivate an affinity by empowering Safaricom customers with fast & affordable borderless payment options and access to TerraPay’s widespread partner network of 4.5 billion bank accounts and 1.5 billion mobile wallets,” said Sur.
M-Pesa customers can send and receive money from Bangladesh and Pakistan through the M-Pesa Global service under the M-Pesa Super App or by dialing *334# and selecting M-PESA Global under the “Send Money” option.
“Remittances have become an economic lifeline for thousands of households and businesses in the country, connecting them to opportunities and empowering our customers to transact conveniently and affordably around the world. We are therefore delighted to partner with TerraPay to enable anyone in the country to send and receive money to and from more than 200 million people across Bangladesh and Pakistan with M-PESA. This partnership opens up one of the world’s largest remittance markets making Kenyans more globally connected,” said Safaricom CEO Peter Ndegwa.
Read Also: Safaricom Introduces Special Data Bundle for Tiktok Lovers
TerraPay joins a roster of more than 35 partners under the M-PESA Global service which enables customers in Kenya to send and receive money and make and receive payments across more than 170 countries.
In the telco’s last financial year to March 2023, more than 917,000 customers used the M-PESA Global service, transacting more than Sh418 billion in over 31.8 million transactions.
Accordingly, M-PESA processed more than 90% of all remittances into the country.
Email your news TIPS to Editor@Kahawatungu.com — this is our only official communication channel
