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TerraPay Drives Digital Transformation in the Middle East and North Africa with Innovative Financial Solutions

A special focus on small and medium-sized enterprises with a commitment to the highest security standards to ensure reliable and secure financial transfers.

At the Dubai Fintech Summit, a strategic gathering of companies in digital financial services, we interviewed Bassem Awada, Regional Director for the Middle East and North Africa at TerraPay, a global leader in digital payments. The interview focused on the company’s latest developments, its vision in digital remittances, and its role in enhancing financial transformation in the region.

Global Expansion:

Awada explained that TerraPay was established in 2015 and expanded significantly since 2020. Today, its network covers 145 countries worldwide, allowing individuals and organizations to seamlessly make payments between people and companies. One of the main features of TerraPay’s products is its in-house technology, which provides high flexibility in meeting customer needs.

This innovative technology enables clients to grow their businesses, as the digital infrastructure can accommodate increased demand. Additionally, the integration of technology with banking and financial institutions allows TerraPay to accept any digital payment system.

Innovation and Technology to Drive Digital Transformation:

Bassem Awada emphasized the importance of the Dubai Fintech Summit for the company, describing it as a vital hub for companies in the digital financial services field. TerraPay recognizes the significance of this industry due to the ongoing shift toward financial technology and the growing adoption of digital currencies in the region.

Special Focus on SMEs:

Among TerraPay’s priorities is offering tailored services to small and medium-sized enterprises (SMEs). Awada stated, “These organizations have specific requirements that TerraPay can meet better than banks, providing prices that align with their needs.” The company pays significant attention to this sector, delivering advanced financial services to support its growth.

Ensuring the Highest Security Standards:

Awada stressed that TerraPay adopts the highest security standards in its technology to ensure the safety of electronic fund transfers. The company follows strict security protocols, and funds go through several stages before being disbursed to ensure the complete security of the transactions.

North Africa Strategy:

Egypt ranks fifth globally in receiving remittances, and Morocco is 11th. Consequently, TerraPay considers Egypt and Morocco crucial markets for its business expansion in North Africa. The company aims to strengthen its presence in these markets by providing financial solutions that meet the needs of both individuals and businesses.

Towards a Comprehensive Digital Future:

During the conversation, Bassem Awada noted that TerraPay’s vision aligns with the comprehensive digital transformation in the Middle East and North Africa. The company is prepared to address the growing trend toward digital currencies and advanced financial services. This interview with “Ent Arabi” demonstrates the company’s commitment to delivering world-class financial services, enabling individuals and companies to seize new digital opportunities fully.

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