Digital commerce firm Network International has joined forces with payments company TerraPay to drive the acceptance of mobile wallets across the UAE and tackle financial inclusion.
Under the partnership, the two companies will enable a large market from the African mobile wallet ecosystem to transact across Network International’s terminals in the UAE as well as at e-commerce platforms using TerraPay’s payment processing rails.
The proposed collaboration aims to benefit Network’s merchants and acquirer processing clients in the UAE, with the potential to expand to Network’s remaining markets in the Middle East and Africa region.
Ani Sane, co-founder and chief business officer, at TerraPay, says: “We are excited about our upcoming association with Network International, in driving mobile wallet acceptance and consumption across multi-channels on Network International’s terminals and e-commerce sites in the UAE.
“This paves the way to foster financial inclusion and independence for customers by offering real-time mobile wallet payments for the very first time in the UAE. Opening up interoperability for mobile wallets is the next big wave in digital payments across the world. We look forward to leveraging our mobile wallet payment rails, with Network’s deeply rooted and extensive merchant network in the region.”
Meanwhile, Nandan Mer, group CEO, at Network International, added: “Mobile wallets are increasingly gaining popularity as a preferred payment method across the world, and as a market leader in end-to-end payment solutions, we are delighted to work with TerraPay to enable acceptance of mobile wallets across our UAE merchant network.
“We believe this will help us build a digitally connected payments ecosystem in the region, starting with the UAE. TerraPay’s unique technology platform, with interoperability at its core, backed by our strong merchant network, is expected to facilitate easy and quick adoption of mobile wallets across the region, serving consumers seeking secure contactless payments options.”
According to TerraPay, its collaboration with Network International will play a key role in building sustainable and scalable interoperable payment options, thereby driving increased and repeat usage of mobile wallets and digital currency for digital payments.
The global payments infrastructure company also recently unviled a partnership with BOSS Revolution Money Transfer to provide customers with new money transfer destinations across Africa, Asia, LATAM and Europe. BOSS Revolution has already begun offering seamless and secure payments to mobile wallets in Senegal and Benin through TerraPay.