As the demand for efficient cross-border payment solutions continues to grow, TerraPay, a leading global cross-border payments network, has announced a transformative partnership with Maya, the top fintech ecosystem in the Philippines. Announced at the Singapore Fintech Festival, this collaboration aims to make international remittances more accessible, convenient, and secure for Filipinos across the world.
Users of the Maya app can now experience seamless money transfers from Korea, the USA, Singapore, and the Middle East through TerraPay’s extensive global network. The partnership is set to enhance the customer experience while ensuring the utmost safety and security of transactions, offering faster transfer times, competitive exchange rates, and affordable borderless payment options.
Ani Sane, Co-founder and Chief Business Officer, TerraPay, expressed his enthusiasm about the collaboration. “This partnership aligns perfectly with TerraPay’s mission of driving financial inclusion and revolutionizing global borderless payments. By teaming up with Maya, we can serve customers in the Philippines with innovative solutions, empowering them with fast and affordable cross-border payment options. We remain committed to making digital transactions more secure and faster for remitters and customers in the Philippines.”
Equally excited about the partnership, Khurram Malik, Chief Operating Officer of Maya, stated, “We are pleased to work with TerraPay to make international remittances more accessible and convenient for our customers. Cross-border payments are integral to the increasingly global Filipinos with family or virtual work opportunities overseas. By leveraging the seamlessness of the Maya app, we are making it easier for them to receive money, save, and spend smartly.”
Both TerraPay and Maya share a vision of creating an inclusive ecosystem powered by superior customer experience. By leveraging TerraPay’s secure and adaptable payments technology, Maya is expanding its thriving network of customers, promoting global financial interoperability and inclusivity, while opening new channels for customers to access convenient and safe payment solutions across borders.
The Philippines ranks among the top 5 countries for remittances, with a staggering inflow of USD 38 billion in 2022. The transaction value in the digital remittances market is projected to reach USD 1.12 billion in 2023. These statistics underscore the significance of the collaboration between TerraPay and Maya in meeting the growing demand for efficient and convenient remittance services in the Philippines.
About TerraPay: TerraPay simplifies the movement of money everywhere, providing a single connection to the most expansive cross-border payments network regulated in 29 global markets. It enables payments to 120+ receive countries, 210+ send countries, 7.5 billion+ bank accounts, and 2.1 billion+ mobile wallets. TerraPay is on a mission to connect a borderless financial world, making moving money everywhere instant, reliable, transparent, and fully compliant. TerraPay pushes the boundaries for global businesses, driving financial inclusion in even the most inaccessible markets. Founded in 2014, TerraPay is headquartered in London, with global offices in Bangalore, Dubai, Miami, Bogota, Dar es Salaam, Kampala, Hague, Dakar, Joburg, Nairobi, Milan, Singapore and is expanding rapidly.