Pan Asia Bank has partnered with TerraPay to facilitate instant cross-border money transfers directly to bank accounts in Sri Lanka. This collaboration allows Sri Lankan migrants worldwide to send money to their families and friends back home through TerraPay’s network, which includes partner outlets, websites, and mobile apps.
TerraPay, a mobile payment switch for international remittance services incubated by Comviva, enables real-time transfers to over 1.5 billion bank accounts and 200+ million mobile wallets in more than 50 countries. Aniruddha Sane, Chief Business Officer of TerraPay, mentioned that their goal is to double these numbers by 2020, with a strong focus on expanding in Asia.
Founded in 1995, Pan Asia Bank operates 85 branches across Sri Lanka, offering a wide range of banking services. This partnership aims to streamline the process for Sri Lankans abroad to send remittances, making it quicker and more convenient to transfer funds anytime, anywhere.
