Together, PayPal and TerraPay aim to make cross-border transactions across the Middle East and Africa faster, easier to use and more accessible.
TerraPay, a UK-based global money movement company, has joined forces with the leading payment provider PayPal to enable real-time fund transfers for PayPal customers across the MENA region.
Partners will connect banks, mobile wallets, and financial institutions via a secure PayPal account linking. TerraPay will act as a facilitator, enabling mobile wallet and banking customers across the Middle East and Africa to easily transfer funds into their PayPal accounts.
Thanks to built-in interoperability, TerraPay can link different financial systems, like banks, mobile wallets, and payment apps. This makes it easier for users to send and receive money across platforms and helps businesses scale up by reaching more customers, no matter what system they’re using.
The two companies collaborate at a time when the demand for seamless and efficient cross-border payments continues to grow across the region. Both governments and private institutions in MENA embrace digital transformation. Therefore, the MENA digital payments market is estimated to reach $251.34 billion in 2025, with growth prospects up to $422.56 billion by 2030.
As payment systems in the region become more interconnected, there is potential for improved economic cooperation among MENA countries. To facilitate this closer economic collaboration, a number of financial initiatives have already been introduced. One example is Buna, the Arab Regional Payment System, that enables faster, more affordable cross-border payments in and out of the MENA region. It supports both Arab and major international currencies, offering a secure, low-cost, and transparent way to move money across borders, strengthening economic ties between Arab countries and building stronger connections with global trade partners.
Real-time payments allow funds to be transferred almost instantly across borders, eliminating delays associated with traditional banking processes. This speed benefits both businesses and individuals, from improving cash flow management to enabling timely payments for services and remittances. Besides, digital, instant transactions help reduce the risk of errors and enhance monitoring, contributing to better security and compliance with regulatory standards.
By improving payment infrastructure and connecting financial systems, MENA countries can unlock smoother cross-border commerce and lay the groundwork for deeper regional economic ties. It’s not just about faster payments, but also about a more collaborative, resilient, and inclusive regional economy.
“The Middle East and Africa are at the forefront of the digital transformation, yet financial barriers still limit growth for many. 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.”
Otto Williams, Senior Vice President, Regional Head and General Manager, Middle East and Africa, at PayPal
