Payment technology companies enza and TerraPay have partnered to transform the payment acceptance landscape and simplify cross-border payments for businesses in Africa.
Millions of businesses in Africa struggle to make or receive cross-border payments in a timely and cost-effective manner. The partnership aims to address this problem by leveraging TerraPay’s access to more than 7.5 billion bank accounts, more than 2 billion wallets, and over 6 million cards globally.
Furthermore, enza will harness TerraPay’s connectivity into over 2.1 billion mobile wallets globally, facilitating the acceptance of these wallets alongside other domestic and international payment brands both online and in-person.
Commenting on the partnership, enza Executive Director Andrew Key said, “We are thrilled to find an internationally renowned partner in TerraPay. enza is delighted to be able to incorporate TerraPay’s capabilities into our propositions being delivered to many of Africa’s leading banks. We are particularly excited about the role the partnership will play in transforming the experience of businesses across Africa, bringing many of them into the formal financial ecosystem for the first time”.
Ani Sane, Co-founder and Chief Business Office at TerraPay, said, “The enza leadership’s track record and depth of their relationships across Africa are unparalleled, so combining their market reach and services with our money movement network makes us very optimistic about the future of this partnership. This will be a further step towards enabling true financial inclusion by empowering transactions that can change lives, irrespective of the size or volume.”
