During the Seamless 2024 exhibition in Dubai, fintech application Barq and global money movement company TerraPay announced a strategic partnership aimed at revolutionizing international money transfer services.
This collaboration seeks to provide fast and secure international money transfers, leveraging TerraPay’s extensive global payments network to enhance Barq’s service offerings. This partnership aligns with Barq’s mission to innovate and meet customer needs in the rapidly evolving fintech sector, both within Saudi Arabia and internationally.
Ahmed Alenazi, CEO of Barq, expressed his excitement about the partnership, stating: “We are delighted to collaborate with TerraPay to enhance our international money transfer services. This alliance reflects our commitment to innovation and customer satisfaction.”
Ani Sane, Co-founder & Chief Business Officer of TerraPay, commented: “This strategic partnership is not just another agreement; it is a testament to our commitment to supporting promising projects in Saudi Arabia like Barq. Through this collaboration, we aim to deliver fast, efficient, and secure international money transfer services that adhere to global standards.”
Barq, which received a license from the Saudi Central Bank (SAMA) in January, is poised to revolutionize the Kingdom’s fintech sector. Developed in Riyadh by Saudi talent, Barq’s unique services and secure payment methods position it as a key player in the market.
The strategic partnership highlights several key benefits:
- Enhanced speed and security for international money transfers
- Alignment with global standards in financial services
- Support for the growth and innovation of Saudi fintech
This partnership is expected to significantly impact Barq’s ability to cater to its customers’ needs while maintaining high standards of security and efficiency.