by PayPal and TerraPay have announced a landmark partnership to transform cross-border payments across the Middle East and Africa (MEA). This collaboration is set to empower millions of individuals and businesses by enabling real-time fund transfers, bridging financial gaps, and driving economic growth in one of the world’s fastest-growing digital payments markets.
The Vision: Financial Inclusion and Economic Growth
The MEA region is experiencing a digital revolution, with the digital payments market projected to soar from $251.34 billion in 2025 to $422.56 billion by 2030. Despite this growth, many still face barriers to accessing efficient, secure, affordable cross-border payment solutions.
PayPal and TerraPay are addressing these challenges by connecting banks, mobile wallets, and financial institutions, making international transactions faster and more accessible.
Otto Williams, Senior Vice President and Regional Head for PayPal in MEA, emphasized,
“By partnering with TerraPay, we’re making it easier for businesses and individuals to make cross-border transactions quickly, securely, and without friction. Together, we’re helping unlock economic opportunity and build a more connected, inclusive financial future for the Middle East and Africa region.”
Related news: Mastercard Drives Africa’s $1.5 Trillion Digital Payment Surge
How the PayPal and TerraPay Partnership Works
The partnership lets users securely link their PayPal accounts with local mobile wallets and bank accounts through TerraPay’s robust infrastructure. This means:
- Instant, seamless fund transfers between mobile wallets, banks, and PayPal accounts
- Expanded financial connectivity for millions of customers
- Greater financial inclusion, enabling participation in the global digital economy
Ani Sane, Co-Founder and Chief Business Officer at TerraPay, stated,
“This partnership with PayPal marks a major milestone in expanding financial access across the Middle East and Africa, where our strong global infrastructure helps overcome the limitations of traditional banking.”
Related news: Mastercard Drives Africa’s $1.5 Trillion Digital Payment Surge
TerraPay’s Expanding Footprint in Africa
TerraPay is not new to the African market. The company has been steadily expanding its presence, now operating in over 40 African countries for both sending and receiving funds. TerraPay’s network connects over 7.5 billion bank accounts and 2.1 billion mobile wallets globally, making it a key player in Africa’s digital payments landscape.
Recent partnerships, such as with Africa-focused payments technology firm Enza, have further strengthened TerraPay’s reach. This collaboration allows African businesses to leverage TerraPay’s connectivity, simplifying cross-border payments and bringing more businesses into the formal financial ecosystem.
TerraPay’s expansion is supported by significant investments, including a $75 million financing package from the International Finance Corporation (IFC), which aims to boost affordable remittances and support livelihoods across Africa.
Also read: Raenest Secures $11M Series A to Boost African Businesses
PayPal and TerraPay: Driving Innovation Beyond MEA
PayPal and TerraPay’s impact extends beyond the MEA region. TerraPay has formed alliances with major global money transfer operators like Western Union, MoneyGram, and Ria, streamlining remittances and supporting economic development worldwide.
The company’s technology enables payments to 144+ receiving countries and 210+ sending countries, focusing on instant, reliable, and compliant transactions.
In West and Central Africa, TerraPay is helping to build a robust payment infrastructure, addressing challenges such as low banking penetration and high reliance on cash. The region is expected to grow e-payment revenue by around 20% per year, reaching $40 billion by 2025.
TerraPay’s real-time payment solutions are crucial for unlocking this potential and driving financial inclusion.
Also read: Oze Lands Funding from Visa and DEG
The Future of Cross-Border Payments in Africa
With mobile penetration in Africa rising rapidly—expected to reach 634 million unique subscribers by 2025—the demand for digital payment solutions is set to explode. PayPal and TerraPay are well-positioned to lead this transformation, offering secure, instant, and accessible cross-border payments that empower individuals, families, and businesses.
The partnership between PayPal and TerraPay is a game-changer for cross-border payments in the Middle East and Africa. By combining PayPal’s global reach with TerraPay’s innovative infrastructure, the two companies are breaking down financial barriers, fostering inclusion, and unlocking new economic opportunities for millions across the region and beyond.
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