PayPal and TerraPay Partner for Real-Time Transfers in MEA

PayPal has announced a strategic partnership with TerraPay to enable real-time transfers for users across the Middle East and Africa. TerraPay, a global money movement company, will help connect banks, mobile wallets, and financial institutions, making cross-border transactions faster and more accessible.

This move supports the growing demand for secure and efficient digital payment solutions. According to Mordor Intelligence, the MENA digital payments market is projected to reach $251.34 billion by 2025 and $422.56 billion by 2030.

Through this partnership, users will be able to link their mobile wallets and bank accounts to PayPal. This will allow seamless real-time transfers to PayPal accounts across the region.

Otto Williams, SVP and GM for PayPal in MEA, said the partnership helps remove barriers to financial access. He noted that real-time transfers will support businesses and individuals in participating more easily in the global economy.

Ani Sane, Co-Founder and CBO at TerraPay, said their infrastructure connects various financial systems and enables smooth transactions. He emphasized that the goal is to make real-time transfers simple, secure, and accessible to all.

As demand for real-time transfers increases, PayPal and TerraPay aim to deliver solutions that enhance financial connectivity and support inclusive growth in the region.