In a strategic move aimed at enhancing the integration of local businesses into global markets, TerraPay, a global leader in digital payments, and OMT, a leading financial services company in Lebanon, announced the launch of a cross-border financial solution designed to meet the needs of Lebanese businesses.

This partnership leverages OMT’s extensive experience in the Lebanese market and leadership in the financial services sector, alongside TerraPay’s advanced global infrastructure, to offer a reliable financial solution at competitive prices, adhering to the highest international compliance standards. Consequently, users can instantly request international money transfers, track transactions, and access financial reports through a secure online portal.

In this context, Bassim Awada, Senior Vice President for the Middle East, North Africa, and Global Partnerships at TerraPay, said: “Our partnership with OMT expands our vision to support the Lebanese business community by providing companies with financial solutions that enable them to conduct their international operations confidently and swiftly, in line with globally applied compliance standards. We are pleased to announce this constructive collaboration and look forward to opening new horizons through it.”

Meanwhile, Naji Abu Zeid, CEO of OMT, stated: “Global trade requires secure digital financial solutions that comply with international standards.” He added: “Through our strategic partnership with TerraPay, we provide Lebanese companies with financial tools that keep pace with the speed of the interconnected global economy and its standards. For example, whether importing raw materials or making payments to international partners, Lebanese companies can benefit from a smooth, cross-border payment service that adheres to international compliance standards and offers competitive pricing.”

This partnership between TerraPay and OMT aims to develop a more inclusive financial system that enables companies of all sizes to engage more effectively in the global economy.

TerraPay facilitates money transfers worldwide by providing the largest unified communications network for cross-border electronic payments in over 30 global markets. This network includes more than 150 countries receiving payments, over 210 countries sending payments, more than 3.7 billion mobile wallets, approximately 7.5 billion bank accounts, and over 12 billion cards. TerraPay strives to achieve its goal of connecting a borderless financial world, making money transfers instant, reliable, transparent, and compliant with international standards.

Founded in 2014, TerraPay built a global network compatible with digital wallet systems, contributing to financial inclusion even in remote areas. Headquartered in London, it has global offices in Bangalore, Dubai, Bogota, Dar es Salaam, Kampala, and Singapore. The company is experiencing rapid growth after receiving funding from major investors, including the International Finance Corporation (World Bank), Prime Ventures, Partech Africa, and Visa.

OMT was established in 1998 as the first authorized agent for Western Union in Lebanon and has become a leader in financial services, currently offering 200 services through the largest agent network with more than 1,400 agents distributed across Lebanon.

Committed to keeping pace with fintech developments and enhancing financial inclusion, OMT launched the OMT Visa prepaid plastic and digital card, dual currency and rechargeable, usable locally and internationally, online and in stores. It also launched the OMT Pay app, an optimal application for completing digital financial transactions, allowing users to benefit from diverse services such as money transfers, bill payments, access to a wide range of top-up cards, government services, and more.

Thus, OMT continues its commitment to providing secure, accessible, and inclusive financial solutions within the highest compliance standards.