Another initiative relevant to MEA mobile finance has been launched. This time global digital payments and commerce platform PayPal has announced a strategic partnership with TerraPay, a global money movement company, to enable real-time fund transfers for PayPal customers across the Middle East and Africa (MEA).
This partnership, say the companies, aims to drive economic growth by making cross-border transactions faster, easy to use and more accessible by connecting banks, mobile wallets and financial institutions.
Quoting market research company Mordor Intelligence, TerraPay says that the MENA digital payments market is estimated at US$251.34 billion in 2025, and is expected to reach US$422.56 billion by 2030.
It points out that with rising demand for fast, secure and efficient payment solutions, this partnership bridges key gaps in financial connectivity and infrastructure readiness, enabling millions of individuals and businesses to engage more fully in the global economy.
Through secure PayPal account linking, TerraPay says it will serve as an enabler, allowing mobile wallet and bank users across the Middle East and Africa to seamlessly transfer funds to their PayPal accounts.
This collaboration will provide enhanced accessibility for customers by facilitating secure account linking and seamless fund transfers from mobile wallets and bank accounts with PayPal.
TerraPay says it will also enable expanded financial connectivity, empowering millions of customers to transact internationally with ease, and greater financial inclusion, enabling businesses and individuals to participate more effectively in the global digital economy.
Ani Sane, Co-Founder and Chief Business Officer at TerraPay, says: « This partnership with PayPal marks a major milestone in expanding financial access across the Middle East and Africa, where our strong global infrastructure helps overcome the limitations of traditional banking. With built-in interoperability, TerraPay connects various financial systems, from banks to mobile wallets, making it easier for businesses to scale and users to transact seamlessly on a global scale. »