Safaricom Plc has partnered with TerraPay (Mobex Kenya) to enable over 32 million M-PESA customers to send and receive money to Bangladesh and Pakistan, reaching a combined population of over 200 million people.
Through this partnership, Safaricom customers gain access to TerraPay’s extensive network of 4.5 billion bank accounts and 1.5 billion mobile wallets, providing them with fast and affordable payment options worldwide.
Ambar Sur, Founder and CEO of TerraPay, said the collaboration will facilitate global scalability and offer customers a broad range of options for secure and efficient payments. Sur also highlighted the inclusivity of the financial ecosystem, enabled by TerraPay’s extensive partner network.
According to Safaricom’s CEO, Peter Ndegwa, the partnership with TerraPay opens up opportunities for Safaricom customers to engage with more than 200 million individuals in Bangladesh and Pakistan.
TerraPay joins a list of over 35 partners in Safaricom’s M-PESA Global service, which enables customers in Kenya to send and receive money and make payments across more than 170 countries. In the last financial year ending in March 2023, M-PESA Global facilitated over 31.8 million transactions, amounting to more than Kshs. 418 billion.