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Payments General

GIMAC, TerraPay to enable real-time cross-border money transfers to CEMAC region

Wednesday 11 July 2018 | 12:14 PM CET

GIMAC and TerraPay have signed a partnership to strengthen the remittances ecosystem in CEMAC region.

The partnership will enable instant cross-border money transfer to bank accounts and mobile wallets in the CEMAC zone, comprising of Cameroon, Republic of Congo, Gabon, Equatorial Guinea, Central African Republic and Chad.

GIMAC aims to define and establish the regulatory and security framework of the remittance ecosystem, as well as to enhance interoperability between banks, public treasuries, postal and micro finance institutions, and electronic money transmitters in the Economic and Monetary Community of Central Africa (CEMAC).

Powered by TerraPay’s global clearing and settlement service for mobile wallets, the partnership will make it faster for migrants across the globe to send money to mobile wallets and bank accounts, in real time to Central Africa.

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