botim money has recently announced a strategic alliance with TerraPay to enhance its cross-border remittance services, particularly targeting African markets.

This collaboration aims to facilitate fund transfers for botim money users via direct bank transfers and immediate mobile wallet payouts, leveraging TerraPay’s extensive global payment network.

A key aspect of the integration involves real-time validation in most payout countries, ensuring recipient details are verified before initiating the transfer. This feature is anticipated to boost delivery success rates.

Accelerating Cross-Border Transfers Globally

The official press release highlights that this partnership will make remittance processes faster and more affordable for botim money customers in the UAE, ensuring a clearer and smoother transaction experience.

Initially, the partnership will focus on countries like Uganda, Kenya, Ghana, and Egypt, where mobile wallets are crucial for receiving funds. These markets play a significant role given their reliance on digital payments.

Africa’s remittance inflows have been growing steadily; in 2024, they amounted to approximately USD 96.4 billion or around 5.2% of the region’s GDP1. Through this integration, botim money aims to provide reliable remittance access and contribute to financial inclusion in regions with limited traditional banking infrastructure.

The partnership will also give TerraPay access to botim money’s user base in the UAE, enabling more secure and efficient cross-border payments for users worldwide. Enhanced real-time validation and expanded payout coverage are expected to improve success rates and delivery times, ensuring that customers can be confident their funds reach the correct recipients.