Kenyan telecom giant, Safaricom has announced a partnership with TerraPay (Mobex Kenya) to enable over 32 million M-Pesa customers to send and receive money to more than 200 million people across Bangladesh and Pakistan.
In a statement, it noted that M-PESA customers can send and receive money to Bangladesh and Pakistan through the M-PESA Global service under the M-PESA Super App or by dialling *334# and selecting M-PESA Global under the “Send Money” option.
Safaricom’s chief financial officer, Dilip Pal, underscored the importance of the programme in stepping up remittances to Kenya, adding that it will go a long way in ensuring that the country’s economy is scaled up.
“We are very keen to deepen this project and take it forward. Remittances are a key driver to the economy of the country. They have become an economic lifeline for thousands of households and businesses in the country,” said Pal.
On his part, TerraPay CEO Ambar Sur said that the partnership will spur the development of financial service operators, enabling them to directly scale globally and provide customers with the choice to send payments in a secure manner.
“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 and affordable borderless payment options,” said Sur.
Safaricom says the partnership opens up one of the world’s largest remittance markets, making Kenyans more globally connected.
TerraPay joins a bandwagon 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.
