Enza integrates TerraPay technology for African money movements

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By David Brooks

enza, the innovative payments technology company freeing African banks from the constraints of outdated technologies and operating models, and TerraPay, a leading global money movement company, are pleased to announce a strategic partnership to transform Africa’s payments landscape.

Through the partnership, the organizations aim to address two issues that have inhibited the growth of businesses across Africa and thereby accelerate financial inclusion:

1. Transforming the payment acceptance landscape – enza will leverage TerraPay’s unparalleled connectivity in over 2.1 billion mobile wallets worldwide, facilitating the acceptance of these wallets, along with other national and international payment brands, both online and in person

2. Simplifying cross-border payments for businesses in Africa – Millions of businesses in Africa struggle to make or receive cross-border payments in a timely and cost-effective manner, a problem that will be addressed by leveraging TerraPay’s access to more than 7.5 billion banks is said to have accounts, >2 billion wallets and over 6 million cards worldwide

Andrew Key, Executive Director of enza, commented on the partnership: “We are pleased to have found an internationally renowned partner in TerraPay. enza is pleased to integrate TerraPay’s capabilities into the offerings we offer to many of Africa’s leading banks. We are particularly excited about the role the partnership will play in transforming the experiences of businesses across Africa and bringing many of them into the formal financial ecosystem for the first time.”

Ani Sane, Co-Founder and Chief Business Office at TerraPay, commented: “The track record of enza leadership and the depth of their relationships across Africa are unparalleled. “The combination of their market reach and services with our money movement network makes us very optimistic about the future of this partnership.” This will be another step towards enabling true financial inclusion by enabling transactions that can change lives, regardless of size or volume.”

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