Christine Kagendo 
PayPal, the global payments platform, has entered into a partnership agreement with TerraPay in a bid to spur real-time money transfers across Africa and the Middle East, with a goal of increasing financial access and inclusion in the regions.
The partnership will simplify cross-border transactions by merging PayPal’s international platform with TerraPay’s digital infrastructure, embracing mobile wallet and financial institution support.
The deal will close current connectivity gaps within regional financial systems by directly connecting mobile wallets and bank accounts to PayPal.
TerraPay will be the payments enabler in the partnership, facilitating users to securely and instantly transfer money, a significant milestone for people and small businesses relying on cross-border transactions.
Speaking on the partnership, Otto Abasi Williams, a top executive of the collaboration, said that,
“The collaboration will empower people and businesses in MEA to send, receive, and grow confidently on the world stage.”
The move is made when the pace of adoption of digital payments in the Middle East and North Africa(MENA) is accelerating sharply.
The market for digital payments across MENA is estimated to grow from USD 251.34 billion in 2025 to USD 422.56 billion by 2030, driven by penetration of smartphones, growth of e-commerce, and fintech developments, according to market estimates.
PayPal said the partnership aligns with its long-term vision of enabling a frictionless global commerce experience, particularly in underpenetrated markets.
TerraPay, an interoperability expert in financial systems, is perceived as a key solution to the fragmentation problems which have long affected cross-border transactions in emerging economies.
The alliance is anticipated to help consumers, freelancers, and SMEs through faster and more convenient transfer channels, especially in places where there is little formal banking access.
The TerraPay-PayPal alliance also falls within a broader industry trend towards fintech encompassing all, since both of the firms have bet on the MEA region shifting rapidly towards digital finance.
