PayPal has partnered with global money movement company TerraPay to enable real-time fund transfers for PayPal customers in the Middle East and Africa.

PayPal said the partnership aims to drive economic growth by making cross-border transactions faster, easier to use and more accessible by connecting banks, mobile wallets, and financial institutions.

Through secure PayPal account linking, TerraPay will serve as an enabler which will allow mobile wallet and bank users across the Middle East and Africa to transfer funds to their PayPal accounts.

PayPal said that the partnership will expand financial connectivity by empowering millions of customers to transact internationally with ease as well as increasing financial inclusion by allowing more businesses and individuals to participate in the global digital economy.

"The Middle East and Africa are at the forefront of the digital transformation, yet financial barriers still limit growth for many," said Otto Williams, senior vice president, regional head and general manager, Middle East and Africa, PayPal. "At PayPal, we're committed to changing that and by partnering with TerraPay, we're making it easier for businesses and individuals to make cross-border transactions, quickly, securely, and without friction.

“Together, we're helping unlock economic opportunity and build a more connected, inclusive financial future for the Middle East and Africa region."

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