Commercial Payments International

Netherlands-based digital payments infrastructure company TerraPay has announced its expansion into the USA and Canada for bank account payments to facilitate cross-border payments and transfers.

The company cites its objectives in a press note that it wants to build ‘global digital payment highways that interconnect financial institutions such as Banks and Mobile Wallets across the world’. With this new expansion, users with access to bank transfers in the US and Canada would be able to send and receive funds directly into their bank accounts through TerrPay’s partner network. Now the company has footprints in 70 nations around the globe.

Last week, Payments Canada selected Interac Corp for a real-time payments system in Canada.

“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”, said Ani Sane, Co-founder and Chief Business Officer, TerraPay.

The company puts out that with this expansion into the USA and Canada, ‘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 global partner network of over 4 billion banks and 500 million mobile wallets’.

The company touts itself as a B2B company and has partnerships with United Bank of Africa, Western Union, Visa, Airtel money, bKash, TransferWise, as cited on its website.