TerraPay and barq Set the Stage for Swift and Secure Cross-Border Transfers

barq, a fintech application, and TerraPay, a global money movement company, have entered into a strategic partnership aimed at providing fast and secure international money transfer services. This collaboration leverages TerraPay's global payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term network, aligning with barq's strategy to expand its service offerings and meet the growing demands of the fintech sector.

TerraPay and barq Join Forces

The partnership is expected to enhance barq's capabilities in delivering efficient financial services both within Saudi Arabia and internationally. This development follows barq's receipt of a license from the Saudi Central Bank in January.

Ahmed Alenazi, CEO of barq, expressed his enthusiasm, stating: "We are delighted to collaborate with TerraPay to enhance our international money transfer services. This alliance reflects our commitment to innovation and customer satisfaction."

Developed in Riyadh, barq is anticipated to impact the Kingdom's fintech Fintech Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Read this Term landscape through its services, secure payment methods, and the expertise of its team.

Ani Sane, Co-Founder & Chief Business Officer, TerraPay, commented: "This partnership is not just another agreement; it is a testament to our commitment to supporting promising projects in Saudi Arabia like barq. Through this collaboration, we aim to deliver fast, efficient, and secure international money transfer services that adhere to global standards."

barq and TerraPay Forge a Strategic Partnership https://t.co/gM6TvmSmcp

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Alliance between TerraPay and Alfardan Exchange

Earlier, TerraPay announced a strategic partnership with Alfardan Exchange, as Finance Magnates reported. This collaboration aims to integrate TerraPay's digital payment infrastructure with Alfardan Exchange's established industry presence.

Alfardan Exchange will play a key role in this partnership, which seeks to leverage TerraPay's advanced digital payment framework to provide numerous benefits. Together, they aim to enhance the efficiency, cost-effectiveness, and responsiveness of cross-border payments to meet diverse customer needs.