TerraPay, a global money movement company, has partnered with Wave Mobile Money, a mobile money provider, in what is described as a strategic move to enhance cross-border remittance services in West Africa – and specifically Mali.
This partnership enables Malians to receive money from family and friends abroad directly into their Wave mobile wallets, creating a faster, more accessible, and cost-effective way to access international remittances.
Not surprisingly. the collaborating companies have an established presence in the region. Wave Mobile Money, a fintech company founded in 2018, is a mobile money services provider operating in seven West Africa countries: Senegal, Côte d’Ivoire, Uganda, Gambia, Sierra Leone, Mali and Burkina Faso.
TerraPay simplifies global money movement, providing a single connection to one of the most expansive cross-border payment networks regulated in over 30 global markets.
Through this collaboration, TerraPay’s global payment network now facilitates remittance flows from multiple money transfer operators across the US, Canada and Europe to Mali, all through a single streamlined integration. This model ensures that all Wave users in Mali can instantly receive funds.
TerraPay explains that over 80% of Mali’s population uses mobile phones, with many using them for mobile money and digital wallets.
The Orabank Group, a major financial player in West Africa, will also be a part of this initiative. Karamokho Badiane, Regional Head of Business Development at Wave Mobile Money explains: “This strategic collaboration allows us to harness TerraPay’s global payments infrastructure alongside Orabank Mali’s deep expertise in remittance services, empowering us to expand our reach and provide even greater value to our users.”