enza, the innovative payments technology firm liberating African banks from the constraints of legacy technology and operating models, and TerraPay a leading global money movement company, are excited to announce a strategic partnership to transform the payments landscape of Africa.
Industry sources added that by partnering, the firms focus on tackling two issues that have inhibited the growth of businesses across Africa, and in doing so, accelerate financial inclusion: Transformation of the payment acceptance landscape – enza will harness TerraPay’s unrivaled connectivity into over 2.1 billion mobile wallets globally, facilitating the acceptance of these wallets alongside other domestic and international payment brands both online and in-person.
Industry sources added that simplifying cross-border payments for core 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 through leveraging TerraPay’s access to >7.5 billion bank accounts, >2 billion wallets, and over 6 million cards, globally.
Commenting on the partnership, enza Executive Director Andrew Key stated, “We are thrilled to find an internationally renowned partner in TerraPay. enza is delighted to be able to incorporate TerraPay’s capabilities into our propositions being delivered to many of Africa’s leading banks. We are particularly excited about the role the partnership will play in transforming the experience of businesses across Africa, 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 enza leadership’s track record and depth of their relationships across Africa are unparalleled, so combining their market reach and services with our money movement network makes us very optimistic about the future of this partnership. This will be a further step towards enabling true financial inclusion, by empowering transactions that can change lives, irrespective of the size or volume.”
