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Sunday, June 11, 2017 9:45:45 PM
Mr. Sameer Hirji, Executive Director of Selcom said, “The partnership between Selcom and TerraPay is one that aims to add value to the growing remittance market in Tanzania. By providing access to more international players, recipients in Tanzania gain the benefits of choice and convenience, which tie into Selcom’s core mission of empowering citizens through technology. Selcom looks forward to supporting the growth of TerraPay in the coming months.”
Remittances have played a crucial role in the economy of Tanzania. According to World Bank, the country received a total of $390 million in 2015 from over 4 Million expatriates living abroad.
TerraPay is a global transaction processing, clearing and settlement service for mobile wallets. It provides the interoperability engine that enables customers to send and receive real-time transactions across diverse payment instruments, platforms, and regions. The company believes in the power of mobile devices and is building the digital payment rails to fulfil their vision of enabling users to send money to any mobile.
TerraPay is a B2B company incubated by Mahindra Comviva, a global leader in delivering mobile financial solutions and is part of the USD 18 billion Mahindra Group. It is registered and regulated in several jurisdictions. In the UK, it is regulated by the Financial Conduct Authority (FCA).
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