Kathmandu: TerraPay, a global payments infrastructure company, has partnered with City Express Money Transfer, aiming at strengthening its network for inward remittances in Nepal.
“Individuals in Nepal who are not able to access the traditional cross border remittances channels like cash and have limited digital payments access, will now be able to receive remittances directly into their bank accounts from Nepali migrants in Europe and other different corridors,” reads a joint statement issued by both the companies.
“At TerraPay, we aim at building an inclusive global financial ecosystem through our digital payments highway. Along with transparency and real-time credits led by industry benchmark compliances, we will be able to strengthen inbound money transfers into Nepal, with our newly formed partnership with City Express Money Transfers. South Asia is one of the most important remittance corridors in the world, and with this collaboration, we further strengthen our payout network,” the statement quoted Ani Sane, Co-founder and Chief Business Development Officer, TerraPay as saying.
Announcing the partnership, Chandra Tandan, Managing Director of City Express Money Transfer stated, “We are delighted to partner with TerraPay, a leading Global Payments Infrastructure Company. This strategic partnership will enable the senders to deposit the amount in any bank account in Nepal either through direct account transfers or wallet deposit, and their beneficiaries can receive their payments through over 12,000 payout locations of City Express Money Transfer in Nepal.”