TerraPay, a global money movement company, has partnered with Wave Mobile Money, a leading mobile money provider in Mali, to revolutionize cross-border remittance services. This partnership allows Malians to receive funds directly into their Wave mobile wallets from family and friends abroad, creating a faster, more accessible, and cost-effective remittance solution.
Partnership Highlights
- TerraPay’s global payment network supports remittance flows from Money Transfer Operators (MTOs) in the US, Canada, and Europe to Mali through a single integration.
- Wave users in Mali can instantly receive international funds, promoting financial inclusion and providing a secure alternative to informal remittance channels.
- Over 80% of Mali’s population uses mobile phones, making mobile wallets critical for financial access, especially for unbanked individuals.
Leadership Perspectives
- Karamokho Badiane, Regional Head of Business Development, Wave Mobile Money:
Emphasizes the collaboration with TerraPay and Orabank Mali to enhance payment solutions, expand reach, and deliver greater value with a strong focus on financial inclusion and secure transfers. - Willie Kanyeki, Vice President – Sub Sahara Africa, TerraPay:
Highlights the partnership as a milestone in enabling instant, compliant, and affordable remittances from major markets, simplifying financial access and fostering inclusion in Mali.
Impact on Financial Inclusion
This partnership simplifies the process for Malians abroad to send money home, strengthening the role of digital financial services in West Africa’s remittance landscape. It supports economic growth and empowers individuals through innovative, technology-driven solutions.
By leveraging TerraPay’s advanced payments infrastructure and Wave Mobile Money’s extensive user base, this initiative is set to transform cross-border remittance flows in Mali, offering a modern, reliable, and inclusive way to send and receive money.
