PayPal (NASDAQ:PYPL) 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. This partnership aims to drive economic growth by connecting banks, mobile wallets, and financial institutions.
According to Mordor Intelligence, the MENA digital payments market is estimated to be worth $251.34 billion in 2025 and is expected to reach $422.56 billion by 2030. Through secure PayPal account linking, TerraPay will allow mobile wallet and bank users across the Middle East and Africa to transfer funds to their PayPal accounts.
“The Middle East and Africa are at the forefront of the digital transformation, yet financial barriers still limit growth for many,” said Otto Williams, SVP, regional head and general manager, Middle East and Africa, at PayPal. “At PayPal, we’re committed to changing that. 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.”
This collaboration will provide enhanced accessibility for customers by facilitating:
- Secure account linking and fund transfers from mobile wallets and bank accounts with PayPal;
- Expanded financial connectivity, empowering millions of customers to transact internationally, and
- Greater financial inclusion enables businesses and individuals to participate more effectively in the global digital economy.
“Our mission at TerraPay is to create a world where digital transactions are effortless, secure, and accessible to all,” said Ani Sane, co-founder and chief business officer at TerraPay. “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. Together, we are driving a new era of digital payments.”