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TerraPay launches international mobile money transfers to Uganda

TerraPay has successfully obtained an approval from Bank of Uganda to facilitate international money transfers to mobile wallets in the country, according to a press release.

This enables TerraPay's network partners across the world to send funds directly to mobile wallets in Uganda.

Earlier, TerraPay had received regulatory approvals enabling cross-border money transfers to mobile wallets in Kenya and Tanzania. With the addition of Uganda, TerraPay becomes the only licensed mobile payments switch equipped to deliver cross-border payments to mobile wallets in the East African region.

"Over the last few years mobile money has increasingly become a norm in Uganda, especially for those who were financially excluded earlier," Ambar Sur, founder and CEO of TerraPay, said in the release. "We are delighted to bring the convenience of instant cross-border money transfer, directly to mobile wallets for the people of Uganda."