Online payment platform TerraPay partnered with Diamond Trust Bank Uganda (DTBU), subsidiary of Diamond Trust Bank Group on Wednesday, to expand international money transfers and strengthen financial inclusion in Uganda.
The collaboration aims to facilitate direct account deposits from around the world and leverage DTB’s brand name to optimize advantages for customers across the globe, said the fintech firm.
The firm said this partnership will benefit customers and emigrants residing in the United Arab Emirates, United Kingdom, United States, Kenya, Germany, Qatar, Canada, and Europe, to transfer money in real-time to Uganda residents.
The mobile payments company also said DTBU will expand its customer base for international money transactions consequently boosting direct international investments within the nation as well as it looks to extend its global outreach through the association with DTBU.
“TerraPay’s agile technology will allow us to reach a wider network of customers, making it easier for them to send and receive money across borders,” said Varghese Thambi, Managing Director at DTBU.
Earlier this year, TerraPay collaborated with Orange Finances Money Mali, subsidiary of Orange Mali, aiming to transform the digital financial landscape for Mali which diaspora residing across the globe, including other African countries.
In late 2023, the company also partnered with Maya, fintech company at the Singapore Fintech Festival to make international remittances more accessible, convenient, and secure for Filipinos across the world.
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