Money Travels Podcast Season 3, Episode 12
For migrant workers sending remittances back home, cross-border payments can be slow, complex and expensive. It was this challenge Ambar Sur set out to solve when he left his telecom background and co-founded Terrapay in 2014. Inspired by telecom’s seamless global connectivity, Ambar set about building a robust network to enable instant, low-cost digital transactions, helping workers move more money more quickly across borders and increasing financial inclusion in the process. In this episode, we talk to Ambar about his Terrapay journey and how digital wallets are reshaping financial ecosystems to meet UN Sustainable Development Goals. We discuss the power of interoperability, explore the real-world impact of digital wallets, and ask about the challenges still to be addressed in the quest for borderless financial connectivity.

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Timestamps:

Chapters

• 00:00:00 Introduction to Ambar Sur
• 00:00:45 Welcome to Money Travels
• 00:02:10 What is a digital wallet?
• 00:03:20 How do digital wallets fit into today’s financial ecosystem?
• 00:04:40 Making wallets “roam” globally
• 00:06:00 Why do small-value remittances matter?
• 00:08:20 How does TerraPay work with regulators on compliance?
• 00:10:00 Guiding emerging market regulators on cross-border flows
• 00:11:30 Ensuring reliability and delivering fast transfers
• 00:13:00 Insights from Ambar’s telco background
• 00:14:10 The shift from cash to digital
• 00:15:30 Why are some workers still paid in cash?
• 00:17:00 Cash vs. digital adoption in emerging markets
• 00:18:10 TerraPay’s early market entry strategy
• 00:20:00 The vision for global interoperability
• 00:22:30 Making low-value transfers affordable for gig workers
• 00:24:10 How do regulators shape digital wallet expansion?
• 00:26:40 Stablecoins, FX considerations, and keeping flows regulated
• 00:29:00 Building trusted, scalable global payment rails
• 00:31:20 TerraPay’s mission: money movement as seamless as mobile roaming
• 00:34:10 Future outlook for global wallets and remittances
• 00:36:40 Closing and next episode nominations

Disclaimers:
Visa Direct capability is enabled through a financial institution partner. Visa Direct product availability and functionality varies by market. The views and opinions expressed in this podcast are those of the speakers and do not necessarily reflect the views or positions of any entities they represent. Visa neither makes any warranty or representation as to the completeness or accuracy of the information within this podcast, nor assumes any liability or responsibility that may result from reliance on such information and any information from third parties. The information contained in this podcast is not intended as investment or legal advice, and listeners are encouraged to seek the advice of a competent professional where such advice is required. All brand names, logos and/or trademarks are the property of their respective owners, and do not necessarily imply product endorsement or affiliation with Visa.