TerraPay and Small World Money Transfer announce strategic partnership to enhance mobile wallet services in Senegal

DAKAR, Senegal, Nov. 30, 2023 /PRNewswire/ -- TerraPay, a global cross-border payments network, is proud to announce a strategic partnership with Small World Money Transfer, a leading provider of cross-border money transfer services for consumers and businesses. In this ever-evolving cross-border payments landscape, this collaboration is poised to redefine mobile wallet services across Senegal, ensuring that Wave Wallet account holders can directly receive remittances into their wallets via instant bank transfers from the EU and UK , using Small World Money Transfer.

At the heart of this partnership is the recognition of the hurdles Senegalese expatriates encounter when attempting to send money back home, leaving customers yearning for a more convenient and secure alternative. This partnership solves for these challenges, enabling a seamless, secure, accessible, and instant solution for customers sending money to their loved ones in Senegal.

Stanley Wachs, Managing Director, Northern Europe, Africa & Asia at Small World Money Transfer, expresses excitement about the partnership, "We are delighted to announce that Small World Money Transfer is now available on all major mobile wallet services in Senegal with the latest addition of WAVE mobile wallet through TerraPay."

He adds, "At the heart of our mission is the drive to provide customers with the means to send money to friends, family and loved ones in the most cost-effective way. And we have been working tirelessly to offer our clients the best possible service in an easy, fast and secure manner. This partnership will provide more convenience and options for our customers sending money to Senegal."

"We are stoked to join forces with Small World Money Transfer," said Miller Rodriguez, Strategic Relationship and Sales Manager, Europe - UK, TerraPay. "This partnership is another step to strengthen our continuous efforts towards simplifying cross-border remittances. Together, we are able to make money transfers more accessible, user-friendly, and seamless for the people of Senegal, connecting them to their friends and family across the world. Tapping into the growing popularity of mobile wallets in the region, we are committed to enhancing the cross-border payments landscape while boosting financial inclusion."

Small World Money Transfer, known for enabling over 3 million customers to make payments online as well as through a vast physical network, has been the trusted choice of Senegalese expatriates worldwide. This partnership not only aligns with TerraPay's commitment to driving global financial inclusioun but also helps extend the company's reach and capabilities, with a particular focus on the Senegalese market. The integration of Small World Money Transfer into the TerraPay network ensures customers in Senegal can experience seamless and instant money transfers directly to their Wave Wallet accounts without any additional challenges and complexities.

This partnership announcement comes at a crucial time when the demand for efficient cross-border payment solutions is rapidly rising. It addresses this growing need by introducing a simple yet transformative solution, providing customers with more options and greater convenience in sending money.

About TerraPay:

TerraPay simplifies the movement of money everywhere – providing a single connection to the most expansive cross-border payments network regulated in 29 global markets and enabling payments to 120+ receiving countries, 210+ sending countries, 7.5Bn+ bank accounts and 2.1Bn+ mobile wallets. TerraPay is on a mission to connect a borderless financial world, making movement of money instant, reliable, transparent and fully compliant. TerraPay pushes the boundaries for global businesses – ranging from banks, fintechs and money-transfer operators to travel businesses, creator economy platforms and e-commerce marketplaces – while driving financial inclusion in even the most inaccessible markets. Founded in 2014, TerraPay is headquartered in London, with global offices in Bangalore, Dubai, Miami, Bogota, Dar es Salaam, Kampala, Hague, Dakar, Joburg, Nairobi, Milan, Singapore and is expanding rapidly, having received funding from leading investors, including the IFC (the World Bank), Prime Ventures, Partech Africa and Visa.

About Small World Money Transfer:

Small World is a leading provider of cross-border money transfer services for consumers and businesses enabling over 3 million customers making payments online or via a physical network of more than 250,000 locations, 10,000 agents and 80 stores across 196 countries. Small World is the trusted choice of Senegalese expatriates around the world to send money safely and easily to their loved ones back home in Senegal. www.smallworldfs.com 

Contact:Juveria Samrinjuveria.n@terrapay.com