As a result of the partnership, Dubai Duty Free has access to both TerraPay's cross-border payments infrastructure, made possible by two of the UAE's top global payments infrastructure providers, Network International and Magnati, and its global partner networks, which encompass over 2.2 billion mobile wallets.

By adding Mobile Money Wallets to the existing payment methods and expanding the payments ecosystem to include additional convenience, Dubai Duty Free intends to empower its consumers' payment preferences. Some of the top mobile money providers, including MTN, M-Pesa, and Airtel, have partnered with TerraPay to allow its customers to spend their digital wallets at Dubai Duty Free.


"Our partnership with DDF marks a significant milestone in our journey to enable financial inclusion at a large scale," stated Ambar Sur, the founder and CEO of TerraPay.

Using TerraPay's strong cross-border payment infrastructure, "DDF, the largest retailer in the world, opened up new avenues for seamless Mobile Money Wallet payments within its vast network at their three terminals. This has enabled us to deliver faster, more innovative, and transparent cross-border payment solutions to our partners around the world."
 

With a mobile money wallet, customers may pay money straight into digital services in stores and link their account to their cell phone number.

Expanding the "global reach of financial inclusion"

In the wake of the Covid epidemic, digital wallets in particular have seen double-digit surge in usage of alternative payment methods. By 2026, digital wallets are predicted to have a trillion-dollar worldwide market value, making them a major trend that will influence the global payment sector.

Speaking about the collaboration, Dubai Duty Free CEO and executive vice chairman Colm McLoughlin said, "We are reinforcing our commitment to empowering travelers through DDF to make purchases using payment methods of their choice." With access to TerraPay's extensive network, DDF is thrilled to continue providing the finest service possible to our clients. DDF has always been at the forefront of utilizing partnerships and technology to better serve our clients.

"We are incredibly proud of TerraPay because it aligns with our commitment to expand financial inclusion globally, allowing us to open up new and innovative forms of acceptance for a large segment of unserved populations."
 

TerraPay and DDF set out to revolutionize simplicity and accessibility in retail transactions with a shared commitment to offering a variety of innovative payment methods. This collaboration not only demonstrates the retail industry's flexibility but also the revolutionary power of teamwork in influencing the direction of international trade in the future.