TerraPay partners with banks, money-transfer operators, wallets, and licenced global businesses to enable global money movement. TerraPay is headquartered in London, with offices in Bangalore, Dubai, Miami, Bogota, Dakar, Joburg, Nairobi, Milan, DaresSalaam, Kampala, Hague, and Singapore. Its investors include the IFC (the World Bank), Prime Ventures, Partech Africa, and Visa.
juveria.n@terrapay.com
Year founded
2015
Core solution
TerraPay has built a cross-border payments platform with a suite of solutions that enable P2P, B2B, and B2P payouts, virtual cards, card-to-account, wallet payouts, and acquiring. TerraPay is regulated in 30 global markets enabling payments to 139 receive countries, 210+ send countries, 7.5+ billion bank accounts, and 2.1+ billion mobile wallets.
Payment capabilities
Payments orchestration, pay-out/disbursements, reconciliation and reporting, B2B payments, payments methods supported, multi-currency settlements, instant settlement, tokenization (virtual cards)
Target groups
Marketplaces, global businesses, banks, MTOs, wallet operators
Geographical presence
Global: the US, Europe, the Middle East, APAC, Africa, LATAM, India
Licence type
Licence type – API in the UK, AEMI in Italy. Our Singapore and Mauritius licences are the equivalent of an AEMI and all others are the equivalent of an API.
Payment methods supported
TerraPay is connected to 7.5 billion bank accounts, 2.1 billion wallets, and 6 billion cards. We facilitate cross-border payments for P2P, B2P, and B2B, and enable money transfer from and to bank accounts, wallets, virtual cards, and cards, enabling our partners to pay their users in their preferred method and preferred currencies. TerraPay has created the Request-to-Pay service that ensures interoperability for wallets – and is connected to 1.5 billion wallet holders in Africa for remittance service – who now have access to its Request-to-Pay offering.
What is unique about your company?
With the largest number of global licences and regulatory approvals, TerraPay has compliance at its core. The company has a 98%+ success rate across the globe and contributes to financial inclusion, especially in Africa, South Asia, and South-East Asia. TerraPay has proprietary tech that helps process billions of transactions a month.
Future developments
Business expansion in the geographies we are operational in, focused growth in emerging markets, and to expand to 175 countries by the end of 2024.
Main clients/references
MTN, Visa, Orange Money, Safaricom (M-PESA), Sendwave, Network International, bKash, Western Union, WISE, Moneygram
