By 
PayPal has announced a strategic partnership with global money movement company TerraPay to enable real-time fund transfers for customers across the Middle East and Africa. The collaboration aims to enhance financial inclusion by allowing seamless transfers from mobile wallets and bank accounts to PayPal, addressing long-standing barriers in cross-border payments.
RELATED: 60% of merchants consider PayPal primary avenue for fraudsters
The deal targets one of the fastest-growing regions for digital payments, where the market is projected to grow from $251 billion in 2025 to $422 billion by 2030.
The integration will unlock broader financial connectivity by leveraging TerraPay’s interoperable infrastructure, which spans 144 receiving and 210 sending countries. This allows users to connect across mobile wallets, bank accounts, and card systems in regions often underserved by traditional banking. PayPal emphasized its commitment to financial inclusion, while TerraPay sees the partnership as a milestone toward a borderless digital economy.
For African markets like Kenya, where M-Pesa dominates mobile transactions, the deal may introduce new competitive dynamics by offering global reach through PayPal’s ecosystem. Kenyan banks and fintechs, already exploring cross-border corridor innovation, may need to adapt to the new interoperability standard this partnership sets.
Courtesy: Fintech Association of Kenya
