Western Union partnership with TerraPay to support money transfers to mobile wallets and bank accounts in Europe, Asia, Africa and Latin America.
The alliance will be powered by TerraPay’s transaction processing, clearing and settlement service for mobile wallets.
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Through TerraPay, users can make remittances across varied payment instruments, platforms and geographies.
Western Union partnership
TerraPay founder and CEO Ambar Sur said: “Uniting our strengths will play a pivotal role in expanding TerraPay’s network into new markets and help migrant workers send money home to a mobile wallet or bank account, through a reliable and convenient service.”
The global account payout network of Western Union facilitates connection to banks, national payment settlement switches, third-party payment processors, mobile wallets, among others.
Western Union global head of account payout network Sobia Rahman said: “Joining with TerraPay is a great opportunity to further diversify and expand our payment options across the globe, delivering remittances into mobile wallets.
“Extending our network to TerraPay’s users will provide a convenient and automated channel that customers are looking for.”
