TerraPay and Instant Cash have launched cross-border cash transfers to mobile wallets in parts of Africa. In its initial rollout, TerraPay lets Instant Cash customers send payments to mobile wallets in Nigeria, Tanzania and Uganda. In Nigeria, users can also send money to any mobile number while in Tanzania, customers can transfer funds to directly to Vodacom M-Pesa, Airtel Money, Tigo Pesa and Zantel Ezy Pesa wallets. The company is working with the African Development Bank on a pilot project that will allow people living abroad to pay for goods or services at home using their local currency. The companies hope to expand the service to other African countries.
TerraPay and Instant Cash have launched cross-border cash transfers to mobile wallets in parts of Africa. In its initial rollout, TerraPay lets Instant Cash customers send payments to mobile wallets in Nigeria, Tanzania and Uganda. In Nigeria, users can also send money to any mobile number while in Tanzania, customers can transfer funds to directly to Vodacom M-Pesa, Airtel Money, Tigo Pesa and Zantel Ezy Pesa wallets. Ugandan customers can receive cash in MTN and Airtel Money wallets. The companies hope to expand the service to other African countries.