TerraPay expands operations in Italy

Wednesday 16 August 2023 12:53 CET | News

Global payments infrastructure company TerraPay has announced it has secured an Electronic Money Institution (EMI) license to operate in Italy. 

The company obtained the approval from the Bank of Italy and is set to expand its operations across the country and, subsequently, throughout the 27 states of the European Union.

The future of digital payments

Headquartered in the UK, TerraPay will leverage its expertise and innovative approach in the digital payments sector and will create a positive impact to the European market by providing flexibility in terms of money remittance. 

Since its inception, the company has established itself as a global partner for banks, money transfer operators, financial institutions, and mobile wallet operators, facilitating digital transactions and cross-border payments. Catering to the B2B sector, TerraPay has already partnered with other businesses and will leverage its platform to boost digitalisation and make cross-border payments faster and seamless. 


TerraPay’s continuous commitment 

The payments infrastructure business pledges to achieve the SDG 2030 goal of providing economic growth and equality by reducing the cost of transactions across different payment channels, including mobile wallets and bank accounts. 

It already boasts an expansive network across 121 receiving countries and 208 sending countries and is regulated in over 28 countries globally. It mainly focuses on key regions such as Africa, Europe, and Southeast Asia but aims to reach a worldwide presence. 


Global payments infrastructure company TerraPay has announced it has secured an Electronic Money Institution (EMI) license to operate in Italy.

About TerraPay

Focused on offering a smooth journey for cross-border payments, the UK-based fintech has been building and expanding the payments highway that helps businesses create transparent customers experiences with smart, secure, real-time global payments. Its solutions access an extensive network of over 7.5 billion bank accounts, and more than 2.1 billion mobile wallets across multiple countries. TerraPay’s main goal is to facilitate cross-border payments, increase digitalisation, and boast financial inclusion, especially for underbanked individuals. 

Through a single integration, the company connects its partners to a global network backed by strong security and compliance standards. Its solutions include, among others, international money remittance, collections and acquiring, business payouts, issuance, and card-to-account transactions. 

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Keywords: remittance, EMI licence, cross-border payments, digitalisation, financial inclusion, money transfer, money remittance, e-money, expansion, digital wallet, e-wallet, payout, B2B payments
Categories: Payments & Commerce
Companies: TerraPay
Countries: Italy
This article is part of category

Payments & Commerce


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