TerraPay, a leading cross-border payment network, and Papara, a leading Fintech company in Turkey, have announced an innovative partnership aimed at reshaping the global money transfer landscape.

With this strategic alliance, TerraPay and Papara intend to provide nearly 17 million Papara wallet users with a secure, simple, and seamless way to transfer money worldwide.

This collaboration reflects a shared commitment to improving financial inclusion and accessibility, with the goal of eliminating obstacles such as friction and high costs surrounding cross-border payments and empowering migrant workers and their families with greater financial autonomy.

The digital payment market in Turkey is expected to witness significant growth, projected at 15.78% from 2023 to 2027, resulting in a market volume of $136.90 billion by 2027. * Papara, as a market leader in Turkey, is known for its innovative solutions and unwavering focus on providing exceptional experiences to users. By integrating with TerraPay’s agile technology and extensive global network, complemented by unparalleled compliance capabilities, Papara aims not only to strengthen its financial offerings but also to fuel its future expansion initiatives.

“We are excited to partner with Papara to redefine how money moves globally,” says Miller Rodriguez, Sales and Strategic Relationship Manager, Europe – UK, TerraPay. “This collaboration marks a significant step in our mission to make cross-border payments more accessible and user-friendly for people worldwide. Together with Papara, we aim to empower millions of people in Turkey and beyond with the ability to send money to loved ones, support families, and pursue their dreams.

TerraPay’s award-winning and efficient cross-border payment platform has earned a global reputation for facilitating international money transfers. Papara, with its innovative approach and customer-centric solutions, has established itself as a pioneer in Fintech in Turkey. This partnership between two industry pioneers promises to revolutionize cross-border payments, ultimately benefiting millions of individuals and businesses.

Özge Çelik, Chief Product Officer at Papara, says, “Empowering our customers with fast, secure, and accessible international payment options has always been at the core of Papara’s mission. By joining forces with TerraPay, we are taking a monumental step toward making this mission a reality. Together, we are poised to provide innovative and hassle-free international money transfer solutions to over 17 million users, enriching their financial lives and connecting them with the world.

In the coming months, TerraPay and Papara will work closely to implement their enhanced cross-border payment solutions, providing Papara users with unparalleled access to the global financial landscape.