FinTech barq and TerraPay team to boost global money transfers

Saudi-based FinTech application barq has announced a strategic partnership with TerraPay, a global leader in money movement services. This collaboration is set to provide fast and secure international money transfer solutions.

Ahmed Alenazi, CEO of barq, expressed enthusiasm about the partnership: “We are delighted to collaborate with TerraPay to enhance our international money transfer services. This alliance reflects our commitment to innovation and customer satisfaction.”

Leveraging TerraPay’s extensive global payments network, this partnership aligns with barq’s strategic goals to broaden its service offerings, meet customer needs, and keep pace with the growing FinTech sector both in Saudi Arabia and globally.

Ani Sane, Co-founder & Chief Business Officer of TerraPay, commented: “This partnership is not just another agreement; it is a testament to our commitment to supporting promising projects in Saudi Arabia like barq. Through this collaboration, we aim to deliver fast, efficient, and secure international money transfer services that adhere to global standards.”

TerraPay simplifies global money movement by providing a single connection to one of the most expansive cross-border payments networks. This network is regulated in 30 global markets, enabling payments to 141 countries, facilitating over 210 send countries, and supporting more than 7.5 billion bank accounts and 2.1 billion mobile wallets.

barq, which received its license from the Saudi Central Bank (SAMA) in January of this year, was developed in Riyadh by local talent. The company is poised to revolutionize the Kingdom’s FinTech sector with its unique services, secure payment methods, and expert team.

Source: ibsintelligence.com

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