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In a significant development for the remittance sector, TerraPay, a global cross-border payments network, has announced a strategic partnership with Alfardan Exchange. This collaboration aims to leverage the former’s advanced digital payment infrastructure and the latter’s established presence in the industry, marking a pivotal moment in the evolution of cross-border remittance solutions.

Alfardan Exchange, a prominent player in the remittance sector, brings to the table a wealth of experience and a strong commitment to facilitating seamless financial transactions. TerraPay, meanwhile, simplifies the movement of money everywhere—providing a single connection to the most expansive cross-border payments network regulated in 30 global markets and enabling payments to 141 receive countries, pver 210 send countries, more than 7.5 billion bank accounts, and over 2.1 billion mobile wallets.

TerraPay to Provide a Range of Benefits to Alfardan Exchange

This partnership is set to provide a host of benefits to Alfardan Exchange, with a key focus on leveraging TerraPay’s cutting-edge digital payment infrastructure. By joining forces, the two entities aim to facilitate seamless, cost-effective, efficient cross-border payments to cater to the diverse customer needs.

Sudhesh Giriyan, President, Cross-Border Payments, at TerraPay, expressed his enthusiasm about the collaboration, stating, “TerraPay, a pioneering provider of white-labeled digital payment infrastructure, is dedicated to transforming the remittance landscape. The partnership with Alfardan Exchange is seen as an opportunity to strengthen our market presence in Qatar and gain strategic leverage in the remittance sector.”

“The collaboration underscores TerraPay’s commitment to innovation, setting new benchmarks in the remittance sector. Known for creating seamless, secure, and accessible cross-border transaction solutions, TerraPay aims to revolutionize the digital payments landscape in partnership with Alfardan Exchange,” he added.

 Establishing Advanced Digital Cross-Border Remittance Solutions

In terms of the partnership’s specifics, the two companies will work together to establish advanced digital cross-border remittance solutions. This collaboration will not only strengthen financial inclusivity but also enhance connectivity across multiple global corridors.”

Bashar Alwaqfi, the General Manager at Alfardan Exchange, said: “We are pleased to announce our partnership with TerraPay, this collaboration adds more valuable services to our existing offerings for customers. At Alfardan Exchange, we are committed to continually expanding our service portfolio, in line with our strategic growth objectives. Through this partnership, we look forward to working with TerraPay to introduce innovative solutions and enrich the remittance experience for our valued customers.”

This collaboration represents a shared commitment to providing cutting-edge remittance solutions and driving financial inclusion globally. Both entities are poised to revolutionise the digital payments landscape, offering enhanced efficiency, security, and accessibility to customers across diverse corridors.

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