(MENAFN- Mid-East Info) Wall Street Exchange (WSE), a subsidiary of FINTX, the financial arm of 7X, signed a strategic partnership agreement with TerraPay, a global money movement company, to drive efficiency, reliability, and affordability in international money transfers and promote financial inclusion. This collaboration is set to expand WSE's payment channels via TerraPay's network, making cross-border payments more affordable and enabling underserved communities with seamless access to financial services. This move reflects both organisation's commitment to enhance customer satisfaction and service quality in the remittance landscape.
The partnership agreement was signed at the 7X headquarters in Dubai by Malaz Mubaid, Acting CEO of Wall Street Exchange and Sudhesh Giriyan, President and Global Head of Remittances at TerraPay. The ceremony was held in the presence of Abdulla Mohammed Alashram, Group CEO of 7X, Bassam Awada, SVP MENA and Global Partnerships of TerraPay, and Sultan AlMahmoud, Acting CEO of FINTX.
WSE's collaboration with TerraPay marks a significant step towards enhancing financial accessibility for individuals and businesses, especially those who rely on cross-border payments to support family members, pay for services or conduct business internationally. TerraPay's network of 144+ receiving countries, 210+ sending countries, over 3.7 billion mobile wallets, 7.5 billion bank accounts, and more than 12 billion cardsalso helps WSE streamline international transfers, making them more cost-effective. The end goal is to empower users with convenient payment options.
Malaz Mubaid said:“Our partnership with TerraPay underscores our focus on making cross-border payments more accessible and responsive to the needs of our diverse customer base. By integrating TerraPay's advanced platform with our systems, we are able to enhance our offerings and streamline international transfers, providing individuals and businesses with a more efficient and reliable experience. This collaboration is a strategic step in advancing financial inclusivity and adapting to the shifting expectations within the remittance landscape.”
Sudhesh Giriyan said:“We are thrilled to partner with Wall Street Exchange in driving innovation and enhancing financial inclusion across borders. By integrating TerraPay's robust global remittance network with WSE's services, we are enabling faster, more affordable, and seamless international money transfers for millions of people. This partnership reflects our shared commitment to improving financial accessibility and empowering underserved communities, helping bridge the gap in the global remittance landscape.”
By leveraging TerraPay's global remittance network and advanced technology, WSE will expand its footprint to new destinations and elevate the speed and reliability of its services, all while offering competitive prices.
With a shared commitment to advancing financial technology and enhancing customer experience, the two companies are poised to elevate international money transfers and redefine service excellence to meet the growing demand for fast and reliable remittance solutions.
About Wall Street Exchange:
Founded in 1982, Wall Street Exchange – a subsidiary of FINTX, the financial services arm of 7X – is a trusted leader in the UAE's money exchange sector. With a comprehensive range of solutions, it provides foreign currency exchange, international money transfers, corporate payments, payroll services, and other services such as utility bill payments, mobile recharge, wealth management, and more. As one of the first exchange houses licensed by the Central Bank of the UAE, Wall Street Exchange has built a legacy of trust and innovation over four decades.
Globally recognised for its wholesale currency notes business, Wall Street Exchange is renowned for delivering timely solutions to customers around the world. Backed by a vast network of banking and financial partners, Wall Street Exchange ensures seamless and secure transactions for its customers through more than 30 retail branches in the UAE, combining local expertise with global reach to deliver quality service and foster trust in every community it serves.
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. Founded in 2014, TerraPay operates in over 12 countries and has built the global digital wallet interoperable network, driving financial inclusion even in the most remote markets. TerraPay is headquartered in London, with offices in cities like Bangalore, Dubai, Bogota, Dar es Salaam, Kampala, and Singapore. Backed by leading investors including the IFC (World Bank), Prime Ventures, Partech Africa, and Visa, TerraPay continues its rapid global expansion.
MENAFN21122024005446012082ID1109019221
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.