TerraPay and barq Join Forces to Enhance International Money Transfer Services

TerraPay, a global payments infrastructure company, today announced a strategy partnership with barq, a fintech application based in Saudi Arabia. The partnership aims to provide fast and secure international money transfer services. barq received a license from the Saudi Central Bank (SAMA) in January of this year.

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

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

TerraPay has been actively expanding its global regulatory scope. In the past year, the paytech firm successfully obtained the Electronic Money Institution (EMI) authorization from the Bank of Italy and a Major Payment Institution (MPI) license​ from the Monetary Authority of Singapore (MAS).