DUBAI, UAE, May 7, 2024 /PRNewswire/ — TerraPay, a leading global money movement company, has joined forces with Multipass, a bank challenger in the financial technology sector, to redefine cross-border payment solutions for corporate customers. This strategic collaboration aims to offer unparalleled reliability, efficiency, and cost optimisation to businesses operating in the UK, Europe, and beyond.

Through this partnership, Multipass gains access to TerraPay’s extensive global payments network, expanding its reach to new jurisdictions and local payouts in multiple currencies, ensuring efficient cross-border payment solutions to its clients. Both organizations offer 24/7 customer support and dedicated personal account managers, emphasising the importance of human interaction alongside technological advancement.
Sudhesh Giriyan, President – Cross-Border Payments at TerraPay, expressed enthusiasm about the partnership, stating, “TerraPay is thrilled to collaborate with Multipass to revolutionize cross-border payments for their corporate customers. This partnership underscores our dedication to providing innovative solutions that drive efficiency, reliability, and cost optimisation.”
Rami Chedid, CEO of Multipass for the UAE and the Middle East, commented, “Our partnership with TerraPay represents a significant step forward in our commitment to deliver secure and fast payment solutions to medium-sized entrepreneurs trading internationally. All while prioritizing security and efficiency in speed and costs. As we continue to work on our expansion plans in the UAE, this trusted partnership gives a new level of importance, offering our clients practically a global payment reach.”
He continued to state that Multipass has initiated the application process for a financial services license in UAE to be regulated by The Dubai Financial Services Authority (DFSA), and having received the in-principal approval, the company will launch operations very soon. “This operational expansion will broaden the global payment reach for UAE-based businesses from the very first day, providing them with a competitive edge and opportunities for business growth”, he explains.
About TerraPay:
TerraPay simplifies global money movement – by providing a single connection to the most expansive cross-border payments network regulated in 31 global markets and enabling payments to 144 receive countries, 210+ send countries, 7.5Bn+ bank accounts and 2.1Bn+ mobile wallets. TerraPay is on a mission to connect a borderless financial world, making moving money everywhere instant, reliable, transparent, and fully compliant. TerraPay pushes the boundaries for global businesses – ranging from banks, fintechs and money-transfer operators to travel businesses, creator economy platforms and e-commerce marketplaces – while driving financial inclusion in even the most inaccessible markets. Founded in 2014, TerraPay is headquartered in London, with global offices in Bangalore, Dubai, Miami, Bogota, Dar es Salaam, Kampala, Hague, Dakar, Joburg, Nairobi, Milan, Singapore and is expanding rapidly, having received funding from leading investors, including the IFC (the World Bank), Prime Ventures, Partech Africa, and Visa.
About Multipass:
Multipass a part of Dyninno Group of Companies, is a bank challenger that provides modern financial solutions for businesses with cross-border activity. It offers a multi-currency business account with an instant FX desk and a corporate card that allows international companies to manage their bank transfers in foreign markets in a simple way. Multipass’s customer offering includes local UK, US, and EU (European Union) accounts, as well as a single multi-currency IBAN supporting over 70 currencies and 200 global payment destinations. The company was founded in 2017 and is led by Dmitry Tsymber.
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Participating in the International Conference on Robotics and Automation (ICRA 2024) from the 13th to the 16th AI expert research platform, Bimanual Mobile Manipulator RB-Y1 pre-order beginsDAEJEON, South Korea, May 7, 2024 /PRNewswire/ — Rainbow Robotics (CEO Jungho Lee), a robot platform specialized company, will participate as a bronze sponsor at the IEEE International Conference on Robotics and Automation (ICRA 2024), which will be held at Pacifico Yokohama, Japan on May 13.

During this exhibition, Rainbow Robotics will demonstrate its Bimanual Mobile Manipulator ‘RB-Y1’. RB-Y1 is a humanoid-shaped research platform equipped with two arms with 7 degrees of freedom per arm, a single leg with 6 degrees of freedom, and a wheel-type mobile platform.
In particular, in line with the recent trend of the AI era, Rainbow Robotics plans to provide various APIs and options so that SW developers can easily utilize them for research purposes.
Throughout the exhibition period, various demonstrations will be shown of RB-Y1 with real-time remote operation technology, which links the data arm and simulation system. Additionally, Rainbow Robotics plans to exhibit the small-sized high-precision collaborative robot RB3-730 and the quadruped robot RBQ-10.
ICRA (International Conference on Robotics and Automation) is an event hosted by IEEE (Institute of Electrical and Electronics Engineers) and is the world’s largest robotics conference held annually.
Meanwhile, Rainbow Robotics will begin pre-orders for its Bimanual Mobile Manipulator RB-Y1 from May 8. Customers who purchase during the pre-order period will receive free after-sales service for one year, and products are scheduled to be delivered sequentially starting in October. The research platform is sold for US $ 80,000 and the commercial platform is sold for USD $120,000 (VAT excluded). If you would like to pre-order RB-Y1, please contact us through enquiry page or email us at [email protected].
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Unreliable and fossil fuel-intense electrical grids
BOSTON, May 6, 2024 /PRNewswire/ — Electrification of cars, buses, and trucks drastically reduces CO2 emissions at the point of use compared to a diesel or petrol alternative. The adoption of EVs across all sectors, with IDTechEx predicting over 180 million electric vehicles to be sold annually by 2044. This will contribute to a drastic reduction in tailpipe emissions. However, the overall emissions are usually highly dependent on the energy mix that goes into grid electricity production. In many economies, this contains significant amounts of fossil fuels such as coal and natural gas. Beyond CO2 emissions, some grids are already at capacity, and the increased load of an electric transport sector risks blackouts and power supply issues. South Africa is an EV market with both of these issues, and several innovations have been made using distributed power generation to tackle these challenges. IDTechEx’s research report, “Off-Grid Charging For Electric Vehicles 2024-2034: Technologies, Benchmarking, Players and Forecasts”, explores the challenges and solutions associated with charging EVs in the context of constrained electricity grids.

The South African utility grid is subject to frequent load-shedding, periods when demand exceeds supply, and utility operators are forced to impose rolling black or brownouts of up to 50% capacity. This is a problem for all forms of domestic and industrial electrical use but becomes an especially pronounced problem for commercial EV operators. Fleet operators often must charge at predesignated times to maximize uptime and complete all planned routes. If the grid fails during a charging spot, the entire schedule may be adversely affected by factors beyond an operator’s control. This is an unusual grid situation; however, it presents a possible worst-case scenario for grid-congested and EV-saturated regions. In 2022, a heatwave in California prompted the state government to ask EV owners not to charge to conserve energy. The growth in electric vehicle sales will only make such problems more widespread.
South Africa also has a very carbon-intensive energy mix, with approximately 70% of power generation being from coal. This directly translates into higher lifecycle CO2 emissions from EVs powered by the electrical grid. Whilst South Africa has a particularly fossil fuel energy mix, the source of electricity plays a critical role in the lifecycle emissions of an electric vehicle.  
Disturbed generation gives renewable and grid-independent electricity
One possible solution being trialed in South Africa, amongst other places, is harnessing distributed renewable microgrids to form the backbone of charging networks. By integrating a solar farm, large-scale energy storage (ES), and high-powered charging outlets, Vrendal-based Zero Carbon Charge plans to build an etruck charging network. Not only does this decouple charging from an unreliable grid, it also avoids placing excess electrical demand on utilities, avoids the need for costly grid expansions, and provides free and 100% renewable energy for the trucks to operate on. This is not limited to South Africa; the USA, in particular, has also seen a boom in companies offering grid-free solar-powered charging. In the US, many of the products are smaller scale and transportable, allowing easy setup for EV users who want quick access to EV charging.
Easy setup, no grid connection, but slow charging rates
The main challenge with distributed solar generation for EV charging is the low power output of photovoltaic panels. Most produce around 250 Watts per square meter, which is relatively low. In fact, to charge at 22kW (generally considered Level 2 fast charging), a solar canopy would need to be at least 10 x 10 meters, a considerable footprint, especially in an urban environment. The other challenge is storing energy, as charging will not always be required constantly, so an on-site battery is required to store the generated electricity. Without an integrated on-site battery, charging is impossible when there is no sunlight, such as inclement weather or overnight. On-site battery storage can combat this intermittency.
 
 
Larger solar farms with integrated energy storage can become islanded microgrids, and with enough on-site storage and photovoltaic production, potential grid-independent fast charging is possible. This is the approach proposed for the South African etruck charging network. It is important to note that purely solar solutions are likely to be geographically restricted to areas with high photovoltaic potential. Thus, it is no surprise that the leading regions are Western regions of the US and places like South Africa. Beam Global, a supplier of EV canopy chargers, recently announced its first sales in the European market to the United Kingdom Ministry of Defense. However, the chargers will not be deployed in the mainland of the UK; they will be deployed on a military base in Cyprus, one of the sunniest regions on the continent.
Despite technical challenges, the aging and fossil fuel-heavy nature of grids combined with high EV uptake call for new charging solutions, and IDTechEx predicts that solar charging systems will make up a sizeable portion of the overall US$16 billion off-grid charging infrastructure hardware market by 2034. IDTechEx research also indicates several other technologies likely to be adopted for off-grid EV charging. Hydrogen fuel cell charging is likely to emerge as a key solution for use cases requiring much greater power per area, with a particular expected focus on electrified construction sites. More niche technologies include AWE (airborne wind energy), which harnesses high altitude winds for distributed power generation. For an in-depth look at solar EV charging, as well as alternative technology options such as AWE and hydrogen see IDTechEx’s latest research on the topic, “Off-Grid Charging For Electric Vehicles 2024-2034: Technologies, Benchmarking, Players and Forecasts”.
To find out more about this IDTechEx report, including downloadable sample pages, please visit www.IDTechEx.com/OffGridEV.
For the full portfolio of electric vehicle market research from IDTechEx, please see www.IDTechEx.com/Research/EV.
About IDTechEx:
IDTechEx provides trusted independent research on emerging technologies and their markets. Since 1999, we have been helping our clients to understand new technologies, their supply chains, market requirements, opportunities and forecasts. For more information, contact [email protected] or visit www.IDTechEx.com. 
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