TerraPay Recruits New Executives Despite Global Job Crisis

By Adedapo Adesanya

Digital payment service, TerraPay, amid pay cuts and retrenchments in the globe, has announced the recruitment of six senior level positions across North America, East-Africa, Middle-East and Asia as it strengthens its services globally.

Despite the worldwide uncertainty caused by the coronavirus pandemic, TerraPay is showing how the company is very well placed to combat the challenges posed during the current world crisis.

Backed by Prime Ventures, Partech and IFC, which invested $9.6 million in March, the company has improved and continued to set up digital payments infrastructure across the globe since 2015.

This new fund has since put TerraPay in a good position to continue to help its partners to allow their customers to send real time digital remittances to their loved ones globally.

Speaking on this, Mr Ambar Sur, founder and CEO of TerraPay commented, “We understand that we have a huge role to play when it comes to making sure that the money keeps flowing across borders despite the restrictions.

“The seamless flow of payments and remittances is our way of serving the financially underserved and disadvantaged during these difficult times.”

And speaking on the appointment, he said, “We are using these times to ensure that we build our capabilities in this new world order and in order to do that I am very happy to announce the addition to the TerraPay family in North America, East-Africa, Middle-East and Asia.”

“These announcements are also a statement of belief in our business model of digital payments away from cash which we have been pursuing since inception and which has been backed up by institutions like IFC, Prime and Partech.” he added.

The company has created digital payments infrastructure across more than 100 countries and during the current pandemic when the cross border remittances become the biggest source of income and survival for the households.

TerraPay has been actively working with its partners to ensure that the money can be sent directly into the mobile wallets and bank accounts.

It uses its licenses in more than 14 countries around the world and partnerships with Mobile network operators, banks and money transfer operators to ensure that the money keeps moving even if people can’t.