TerraPay and VM Money Transfer Services partner image credit: shutterstock

VM Money Transfer Services (VMTS) has agreed a strategic partnership with cross-border payments network, TerraPay.

VMTS facilitates money transfer services globally to customers sending money to Jamaica from Europe, the UK, US, Canada, the Cayman Islands and Turks and Caicos.  With the new agreement, VMTS gains access to TerraPay’s online platform. This enables cross-border transfers for customers sending and receiving money across approximately 31 markets globally.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Michael Howard, CEO, VMTS, said: “Purposeful partnership is an integral part of VM Money Transfer’s mission as we seek to continuously improve service delivery to our clients.  We are excited about this recent collaboration. With TerraPay’s extensive network, we have the opportunity to significantly broaden our reach and potentially tap into new markets. All the while, keeping our clients supported and empowered with convenient and secure channels for their money transfer needs.”

Juan Luis Hernandez, TerraPay’s Senior Regional Manager for Latin America and the Caribbean, added: “We are delighted to partner with VM Money Transfer Services to drive innovation and efficiency in cross-border remittances. Together, we aim to provide a superior remittance experience for Jamaicans worldwide. It strengthens connections with their loved ones and contributes to the economic development of Jamaica.”

VMTS customers can continue to have their funds deposited directly to their Jamaican bank account through VMTS’ Direct to Bank Service. Clients can also collect their remittances in Jamaica from VM Money Transfer’s over 70 sub-agents, 8 VM Money Express locations and 16 VM Building Society branches Islandwide.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.