Through this collaboration, Whalet’s core customers, which include cross-border sellers from the Asia-Pacific region, are set to be able to benefit from optimised international financial transactions and increased payment efficiency.
How will Whalet and TerraPay support SMEs?
Whalet focuses on assisting small businesses through comprehensive global payment solutions, including one-click store setup, global accounts, pay-ins, payouts, currency exchange, and card issuance. Holding payment licences in Singapore, the US, and Hong Kong SAR, the company ensures compliant financial operations for businesses looking to expand into international markets.
As part of the alliance, Whalet will utilise TerraPay’s technology to scale its payout capabilities, providing businesses with secure and compliant payment corridors across multiple regions. Additionally, the integration is set to simplify transactions, minimise settlement complexities, and increase operational efficiency for small and medium-sized enterprises (SMEs). Both Whalet and TerraPay underlined their commitment to offering businesses reliable payout networks personalised to their expansion objectives. By working together, the two companies plan to develop a global financial ecosystem that enables SMEs to grow in the international marketplace.
Commenting on the move, representatives from Whalet mentioned that collaborating with TerraPay solidifies their company’s ability to provide reliable payouts for cross-border trade across enterprises and ecommerce marketplace sellers. Also, the partnership seeks to ensure that consumers can efficiently manage transactions while improving financial processes globally.
Latest news from TerraPay
In addition to joining forces with Whalet, TerraPay also recently started working with
PayPal to expand secure access to cross-border payments across the MENA region. The collaboration was set to support economic growth by making cross-border transactions more efficient, as well as connecting banks, mobile wallets, and financial institutions. At the same time, the two companies sought to offer increased accessibility for clients by facilitating safe account linking and fund transfers from mobile wallets and bank accounts, expanding financial connectivity and financial inclusion.
