Network International and TerraPay complete first live African mobile wallet transaction at Expo 2020 Dubai

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Dubai, 23
March 2022:
Network International (Network), the leading
enabler of digital commerce across the Middle East and Africa (MEA), and TerraPay,
a global payments infrastructure company, facilitating digital transactions without
borders, have successfully executed the first live African mobile wallet-based
transaction in the UAE using Network’s N-GeniusTM POS terminal.

The transaction,
which took place at the Alkebulan African Food Hall, Expo 2020 Dubai, demonstrated
how visitors from the African continent will soon enjoy a hassle-free, safe and
secure payment experience across Network’s terminals and ecommerce merchants in
the UAE, using TerraPay’s payment processing rails.

Against the
backdrop of growing global appetite for contactless, the transaction is a step
towards boosting mobile wallet penetration in the underpenetrated MEA region.
According to a recent market analysis report[i],
mobile wallets continue to rise at the POS, jumping 55% YoY in 2021 across the
Middle East and Africa.

Speaking on
the partnership, Ani Sane, Co-founder and Chief Business Officer, TerraPay,
commented, “We are super-charged about our association
with Network International. TerraPay has already built an extensive network,
enabling 1.5Bn+ mobile wallets across the globe and Network International
continually seeks to collaborate with world class, innovative partners to
deliver solutions to the markets in which they operate. Together we will be initiating mobile wallet acceptance across multi-channels on Network
International’s UAE merchant ecosystem. Our association is yet another step to
build sustainable and scalable interoperable payment options that drive the
transformation towards a cashless society, in paving the way for financial
inclusion.” 

Nandan Mer,
Group CEO, Network International,
said “Expo
2020 Dubai is the apt stage for our landmark first mobile wallet transaction with
TerraPay as we work towards expanding our digitally connected payments
ecosystem in the UAE and across the MEA region. TerraPay has built an extensive
network with interoperability at its core supporting 1.5Bn+ mobile wallets. We
are delighted about our association and to work with them in the future to
expand our ability for UAE merchants to soon accept yet another alternate
payment method, allowing customers to pay via the convenience and flexibility
of their mobile wallet.”

Continued Mer,
“As the UAE’s largest merchant acquirer and the largest payment solutions
company in the MEA region, Network International continues to play a leading
role in strengthening the region’s payment ecosystem. Our strategic
collaborations with world-class, innovative partners are supporting the
transition to cashless for several regional economies while enhancing the
payment experience for merchants and consumers alike.”  

With the association, TerraPay
seeks to expand its presence across the growing Middle Eastern payments market,
connecting global mobile wallet partners on a seamless and innovative payment
solutions platform, across Network International’s rich merchant base in the
UAE.

TerraPay has
established itself as a global partner to leading banks, money transfer operators,
mobile wallet operators and financial institutions to facilitate digital
transactions without borders. As a B2B company, TerraPay partners with other
businesses and helps them leverage its agile, secure, and scalable technology
platform to enhance their customer
proposition for remittances, payments, and cross-border spends. TerraPay is
regulated in over 25 global markets around the world. Some of the company’s key
markets include the GCC; North, South and Central Africa; Europe and South East
Asia; and the Central, North and South Americas.

TerraPay’s vision is aligned to achieving the UN’s
2030 Sustainable Development Goal of fostering economic growth and equality, by reducing the cost of
transactions across diverse payment channels such as mobile wallets and bank
accounts, to name a few.