TerraPay partners with FloCash to enable cross border business payments in Middle East and Africa
TerraPay, a global payments infrastructure company, has partnered with Flocash, a provider of payment services powering ecommerce in Middle East & Africa, for large cross-border business payments.
In a strategic move to further strengthen the global payments ecosystem, this partnership is a turning point for the majority of Flocash’s travel merchants starting with African markets, to efficiently and seamlessly manage their business payouts across the world instantly, with a single connection to TerraPay’s payment rails.
Assuring a fully compliant and transparent solution across every global business payout to clients or consumers, the partnership opens up the doors to a diverse range of payment service providers, payment orchestrators and merchants, across various verticals, by leveraging TerraPay’s rich and extensive global network of partners - banks and eWallets.
TerraPay’s efficient and seamless payout network ensures that Flocash’s merchants optimize their processes as well as their cash flow, into bank accounts, eWallets and Telco wallets.
Flocash will also enhance their business growth by tapping TerraPay's eWallet acceptance solution that enables merchants to access new eWallets, welcoming millions of new buyers in the ecosystem. Furthering this vision of global financial inclusion, the onboarding for non Middle-East and Africa based merchants is the next milestone for this partnership.
Speaking on the announcement, Koert Grasveld - Vice President Payments, TerraPay said "Our partnership with Flocash is a testament to the fact that there is a big opportunity to efficiently offer such services as the acceptance of mobile wallets across the globe, with forex management to customers of PSP, propelling businesses to feel inclusive and grow with scale. "
“Africa’s economy is beginning to thrive and catch-up with the rest of the world in terms of innovation, connectivity and technology. This gives us immense opportunities to help businesses grow. Our partnership with TerraPay will offer Flocash merchants to grow their B2B payouts, B2B2C payouts, and collections from across the globe with a single connection, efficiently managing huge b2b transaction volumes. TerraPay’s edge reigns on offering Flocash’s travel business partners competitive FX services across every business payout. With a focus on global payouts, TerraPay would also propel Flocash to terminate transactions in some key markets across Middle East & Africa, with the former’s pay-in network.” said Sirak Mussie, Managing Director, Flocash.
