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Good news for the inhabitants of the CEMAC zone. The Central African Electronic Banking Intergroup (GIMAC) and TerraPay, the world's leading mobile payments distributor, have just signed a strategic partnership agreement that should strengthen the CEMAC remittance ecosystem. Facilitating the instantaneous transfer of funds to bank accounts and mobile portfolios in the six countries of the CEMAC zone (Cameroon, Congo, Gabon, Equatorial Guinea, Central African Republic and Chad).
The objective of GIMAC is to establish the regulatory and security framework as well as the interoperability of electronic banking among its members (Banks, Public Treasuries, Postal and Micro Finance Institutions, Electronic Money Issuers) in the Economic and Monetary Community of Central Africa (CEMAC) ). Leveraging TerraPay's global clearing and settlement service for mobile wallets, the partnership will enable migrants around the world to send money to mobile wallets and mobile, real-time bank accounts. Central Africa, more quickly and conveniently.
" The collaboration between TerraPay and GIMAC is part of the company's long-term strategy to enable the interoperability and democratization of financial services in Africa . Our partnership should contribute to the implementation of quick and inexpensive practical money transfers to CEMAC and accelerate the creation of an ecosystem, in order to provide essential value to stakeholders and consumers. The main economic and social objective of our partnership is to provide migrants in the CEMAC region with access to inexpensive, secure and instantaneous means of payment "says Ambar Sur, founder and CEO of TerraPay.
Digitization of transfer services is the final step towards improving the delivery of financial services. Through this partnership, GIMAC will contribute to the reduction of the transfer costs and the improvement of the quality of life of the populations, this by sending in an instant the flows received from the diaspora via TerraPay, towards the populations through the canals. acceptance of members such as bank accounts, mobile accounts or prepaid card accounts says Mr. Valentin MBOZO'O, CEO of GIMAC
TerraPay revolutionizes the way money travels around the world whole. The Company is developing a new model that involves the interconnection of existing mobile wallets and digital financial service providers, while assuming full responsibility for obtaining and / or ensuring compliance with all regulatory requirements for the Company. conducting business
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