TerraPay partners with Visa to develop payment solutions that drive financial inclusion

TerraPay, the payments infrastructure company, and Visa have formed a strategic partnership to develop and deliver payment solutions to drive financial inclusion.

“We at TerraPay view the Visa partnership as a next step towards the development of sustainable and scalable interoperable payment options for our Partners and their consumers’ payment requirements” said Ambar Sur, founder and CEO of TerraPay.

The news comes after TerraPay secured $9.6m in an investment drive aimed at bolstering its continuous growth in March 2020. Prime Ventures, IFC and Partech Africa participated in the round.

Visa stated that the partnership was part of its global strategy to open up Visa’s network and support a broad range of players that are developing new commerce experiences, and transitioning to digital channels.

“Partnerships are fundamental to Visa’s business model and we look forward to collaborating with TerraPay to drive seamless and interoperable financial services and products to push much desired financial inclusion in our communities,” said Otto Williams, vice president and head of strategic partnerships, FinTechs and ventures in CEMEA at Visa. “Interoperability is key to a digitally connected payments ecosystem and we are excited that TerraPay is part of our growing Fintech Fast Track programme as we work together to connect more communities with these solutions.”

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