Payments

Terrapay partners with Diamond Trust Bank Uganda for money transfers

Photo: Adobe Stock

February 29, 2024

Terrapay, a cross-border payments network, has partnered with Diamond Trust Bank Uganda to provide international money transfer in Uganda. The companies aim to improve financial inclusion by offering remittances to Ugandan workers in the U.K., U.S., Germany, United Arab Emirates and other countries, according to a press release.

Terrapay offers a cross-border payment network that connects 7.5 billion bank accounts and 2.1 billion mobile wallets with 210 send countries and 140 receiving countries.

"We are excited to partner with Diamond Trust Bank Uganda to expand our reach in East Africa and make it easier for people to send and receive money across borders," Willie Kanyeki, VP, East and South Africa, Terrapay, said in the release. "This partnership will help us achieve our goal of providing everyone with access to affordable, reliable financial services. Diamond Trust Bank Uganda is a well-respected bank with a strong track record of providing excellent customer service. We are confident that this partnership will be a success and will help promote financial inclusion in the region, by simplifying global money movement for both individuals and businesses, making it easier than ever to connect with loved ones and also, empower global commerce."

"We are committed to providing our customers with the best possible banking experience," Varghese Thambi, managing director, Diamond Trust Bank Uganda, said in the release. "This partnership with TerraPay will allow us to offer our customers faster, more convenient, and more secure money transfers, with lower fees. We are confident that this partnership will be a win-win for both, our organizations and the people of Uganda. TerraPay's agile technology will allow us to reach a wider network of customers, making it easier for them to send and receive money across borders. We are certain that this partnership will have a positive impact on the lives of many people in Uganda."