TerraPay formed a strategic alliance with D360 Bank to facilitate money transfers into Saudi Arabia. D360 Bank operates as a digital financial institution that follows Sharia law principles. The partnership creates comprehensive inbound payment channels for person-to-person, consumer-to-business, business-to-consumer, and business-to-business transactions. Recipients can receive funds through bank accounts and mobile wallet services.
The collaboration addresses previous challenges with fragmented payment systems and complex compliance procedures. TerraPy offers a single contract and unified programming interface that streamlines regulatory requirements. D360 Bank holds proper licensing from the Saudi Arabian Monetary Authority, ensuring legal compliance. The system provides instant wallet deposits and same-day or next-day bank transfers depending on transaction amounts.
Multiple user groups benefit from this service arrangement. Businesses can make supplier payments and employee disbursements more efficiently. Individuals can send family support and pay Saudi companies for various services. The partnership expands TerraPay's global network coverage to 152 countries while offering regulated banking infrastructure.
The collaboration addresses previous challenges with fragmented payment systems and complex compliance procedures. TerraPy offers a single contract and unified programming interface that streamlines regulatory requirements. D360 Bank holds proper licensing from the Saudi Arabian Monetary Authority, ensuring legal compliance. The system provides instant wallet deposits and same-day or next-day bank transfers depending on transaction amounts.
Multiple user groups benefit from this service arrangement. Businesses can make supplier payments and employee disbursements more efficiently. Individuals can send family support and pay Saudi companies for various services. The partnership expands TerraPay's global network coverage to 152 countries while offering regulated banking infrastructure.
