TerraPay, a leading global money transfer firm, and PayPal, a global digital payments and commerce platform, announced a strategic alliance on Tuesday that will allow PayPal users in the Middle East and Africa to send money in real time.
Through the connection of banks, mobile wallets, and financial institutions, this cooperation seeks to promote economic growth by facilitating faster, easier, and more accessible cross-border transactions.
Projection of MENA’S digital payments market
The MENA digital payments market is projected to grow from $251.34 billion in 2025 to $422.56 billion by 2030, according to Mordor Intelligence.
This alliance closes important gaps in financial connection and infrastructure readiness, allowing millions of people and organisations to participate more fully in the global economy in response to the growing demand for quick, safe, and effective payment solutions.
TerraPay will act as an enabler, enabling bank and mobile wallet users in the Middle East and Africa to easily move money to their PayPal accounts through secure PayPal account linkage.
“The Middle East and Africa are at the forefront of the digital transformation, yet financial barriers still limit growth for many,” said Otto Williams, Senior Vice President, Regional Head and General Manager, Middle East and Africa, at PayPal. “At PayPal, we’re committed to changing that.
By partnering with TerraPay, we’re making it easier for businesses and individuals to make cross-border transactions, quickly, securely, and without friction. Together, we’re helping unlock economic opportunity and build a more connected, inclusive financial future for the Middle East and Africa region.”
Benefits of the PayPal-TerraPay partnership for customers
Through this partnership, customers will benefit from increased accessibility. PayPal allows for safe account linkage and easy money transfers between bank accounts and mobile wallets.
Increased financial connectivity, enabling millions of consumers to easily conduct business abroad.
Increased financial inclusion, which makes it possible for people and companies to engage in the global digital economy more successfully.
“Our mission at TerraPay is to create a world where digital transactions are effortless, secure, and accessible to all,” said Ani Sane, Co-Founder and Chief Business Officer at TerraPay.
“This partnership with PayPal marks a major milestone in expanding financial access across the Middle East and Africa, where our strong global infrastructure helps overcome the limitations of traditional banking. With built-in interoperability, TerraPay connects various financial systems, from banks to mobile wallets, making it easier for businesses to scale and users to transact seamlessly on a global scale. Together, we are driving a new era of digital payments.”
PayPal and TerraPay are dedicated to providing cutting-edge, safe, and practical financial solutions that enable people and businesses to prosper in a world that is becoming more interconnected, even as the demand for cross-border payments keeps rising throughout the region.