News Title : Terra Connect launched to mobilise int’l remittance growth

News Date : 2015-11-21

-Staff Reporter
Terra, a mobile-first international network, for low-value remittances, launched Terra Connect, its application programming interface suite, to enable mobile wallet providers offer affordable, accessible international remittance products and maximize global reach, says a press release. The size of the Bangla-desh remittance wallet is valued at $15 billion, with more than 8 million migrants initiating 100 plus million transactions annually. The share of the mobile as a carrier of international remittance traffic is, however, less than 2 per cent. Terra provides the rails to carry cross-border peer to peer traffic by interconnecting discrete mobile wallet systems. The Connect API suite offers remittance service providers a single access point to plug into the Terra network to send and receive monies to and from any mobile wallet account, said the statement.

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