DUBAI, UAE, April 15, 2025 /PRNewswire/ -- PayPal, a global digital payments and commerce platform, today announced a strategic partnership with TerraPay, a leading global money movement company, to enable real-time fund transfers for PayPal customers across the Middle East and Africa. This partnership aims to drive economic growth by making cross-border transactions faster, easy to use and more accessible by connecting banks, mobile wallets, and financial institutions.
According to Mordor Intelligence1, the MENA digital payments market is estimated at $251.34 billion USD in 2025, and is expected to reach $422.56 billion USD by 2030. With rising demand for fast, secure, and efficient payment solutions, this partnership bridges key gaps in financial connectivity and infrastructure readiness, enabling millions of individuals and businesses to engage more fully in the global economy. Through secure PayPal account linking, TerraPay will serve as an enabler, allowing mobile wallet and bank users across the Middle East and Africa to seamlessly transfer funds to their PayPal accounts..
"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."
This collaboration will provide enhanced accessibility for customers by facilitating:
- Secure account linking and seamless fund transfers from mobile wallets and bank accounts with PayPal.
- Expanded financial connectivity, empowering millions of customers to transact internationally with ease.
- Greater financial inclusion, enabling businesses and individuals to participate more effectively in the global digital economy.
"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."
As the demand for cross-border payments continues to grow across the region, PayPal and TerraPay remain committed to delivering innovative, secure, and convenient financial solutions that empower businesses and individuals to thrive in an increasingly connected world.
About PayPal
PayPal has been revolutionizing commerce globally for more than 25 years. The company creates innovative experiences that make moving money, selling, and shopping simple, personalized, and secure. PayPal empowers consumers and businesses in approximately 200 markets to join and thrive in the global economy. For more information, visit https://www.paypal.com, https://about.pypl.com/ and https://investor.pypl.com/.
About?TerraPay
TerraPay simplifies global money movement, providing a single connection to one of the most expansive cross-border payment networks regulated in over 30 global markets. The platform enables payments to 144+ receiving countries, 210+ sending countries, over 3.7 billion mobile wallets, 7.5 billion bank accounts, and more than 12 billion cards. TerraPay is on a mission to create a borderless financial world, making money transfers instant, reliable, transparent, and fully compliant.
1 https://www.mordorintelligence.com/industry-reports/middle-east-and-north-africa-digital-payments-market
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