PR88384

THE HAGUE, Netherlands, March 8, 2021/PRNewswire=KYODO JBN/--

    -TerraPay's global presence now reaches 70 countries.

    -The Company is committed towards fostering inclusive digital mobility for

all and is building a credible digital payments highway, beyond borders.

    TerraPay, a leading global payments infrastructure company, announced its

expansion into Bank Account payments in the USA and Canada markets to

facilitate digital cross border remittances and speedy money transfers to

senders (partners and their customers) from key corridors around the globe.

TerraPay's objective is to build global digital payment highways that

interconnect financial institutions such as Banks and Mobile Wallets across the

world, nurturing inclusivity, independence and empowerment to all in the global

ecosystem.

     Users across these countries and continents who currently have traditional

access to bank transfers directly into the USA and Canada, will now be able to

send and receive remittances more efficiently and at global best practice rates

directly into their bank accounts through TerraPay's partner networks. With

this entry, TerraPay's global footprint reaches 70 countries.

     The USA and Canada markets have a largely potential payments ecosystem,

including significant Business, Personal, and Education payment requirements.

This lends to the markets being the home to millions of students and migrant

workers across the world, who immigrate for better education and work

opportunities. With TerraPay's expansion into these cashless economies,

individuals and businesses across the globe who have to make a small, mid-size

or large payment to the USA or Canada can do so through TerraPay's well

entrenched global partner network of 4 Bn+ Banks and 500 Mn+ Mobile Wallets.

TerraPay's state-of-the-art interoperability engine will enable it's partners'

customers to send and receive payments on a scalable, secure, transparent, and

efficient platform, and with an assured same day credit notification. All this,

at a nominal validation.

    "We are proud to announce our expansion into bank account payments in the

USA and Canada, expanding our reach to 70 countries, globally. By facilitating

same day international money transfers and cross border remittances, we will

offer an edge to our partners' customers. The USA and Canada are one of the

biggest cashless economies globally, which gives us the right opportunity to

scale up our operations going forward. We look forward to paving these two new

destinations on our global payments highway," said Ani Sane, Co-founder and

Chief Business Officer, TerraPay.

     Speaking on the foray into the new marquee geographies, Philip Daniel,

Regional Director, TerraPay, said, "Presently, there are more than 5 million

students studying and working away from their country of origin. Most of these

students and other migrant populations are living in countries such as the USA,

UK, Australia, Germany, Canada and others, contributing a cumulative $300 Bn to

the economy. For students, these billion dollar spends cater to application

fees, tuition fee remittances, spends on debit cards off and on campus, living

payments. Therefore, it can be easily ascertained how big the market potential

for seamless cross border digital remittance transactions is. Our solution

enables P2P and B2B fund transfers on the same day compared to the current 2-3

days delivery as with traditional banking channels. Our partners and end

consumers benefit from higher cost efficiencies and increased revenues,

transforming the future of efficient digital money transfers."

    TerraPay has established itself as a global partner to leading banks, money

transfer operators, mobile wallet operators and financial Institutions to

facilitate digital transactions without borders. As a B2B company, TerraPay

partners with other businesses and helps them leverage its agile, secure, and

scalable technology platform to enhance their customer proposition for

remittances, payments, and cross border spends. TerraPay is regulated in over

45 countries around the world.

    About TerraPay

    TerraPay is a licensed digital payments infrastructure and solutions

provider, paving the global payments highway. The company's robust foundation

and innovative platform technology serve as the digital interoperability engine

enabling customers and businesses globally to send and receive payments on a

secure, transparent, efficient, and real-time basis. The agile network supports

diverse payment instruments and types of payments while adhering to complex

regulations and compliance standards in different markets.

    For more information, please visit terrapay.com

    Logo: https://mma.prnewswire.com/media/1324550/TerraPay_Logo.jpg

SOURCE: TerraPay