Safaricom has announced a partnership with TerraPay (Mobex Kenya) which will enable 32 million M-PESA customers to transact with more than 200 million people across Bangladesh and Pakistan.
M-PESA customers will be able to send and receive money to Bangladesh and Pakistan through the M-PESA Global service under the M-PESA Super App or by dialling *334# and selecting M-PESA Global under the “Send Money” option.
TerraPay joins a roster of more than 35 partners under the M-PESA Global service which enables customers in Kenya to send and receive money and make and receive payments across more than 170 countries.
“Remittances have become an economic lifeline for thousands of households and businesses in the country, connecting them to opportunities and empowering our customers to transact conveniently and affordably around the world. We are therefore delighted to partner with TerraPay to enable anyone in the country to send and receive money to and from more than 200 million people across Bangladesh and Pakistan with M-PESA. This partnership opens up one of the world’s largest remittance markets making Kenyans more globally connected,” said Peter Ndegwa – CEO, Safaricom.
In Safaricom’s last financial year to March 2023, more than 917,000 customers used the M-PESA Global service, transacting more than Kshs.418 billion in over 31.8 million transactions. Accordingly, M-PESA processed more than 90% of all remittances into the country.