TerraPay

What TerraPay does

TerraPay is a London-headquartered cross-border payments infrastructure company founded in 2010 that operates a single global network connecting banks, digital wallets, payment systems, and merchants across 156+ countries. Its core platform connects 11,500+ banks, 200+ wallet partners, 3.7 billion+ mobile wallets, 7.5 billion+ bank accounts, and 150 million+ merchant acceptance locations, processing transactions with a 99.9% success rate and 97% delivered in under one minute. The company's architecture centers on a platform-plus-modules model: the core Global Payments Network is extended through Xend (a Payments Interoperability Network enabling wallet-to-wallet, wallet-to-bank, and merchant acceptance), TerraPay Verify (real-time beneficiary verification across 87+ countries), and vertical-specific solutions for workforce payouts, media royalties, travel payments, MTOs, wallet providers, and banks. Regulatory footprint spans 32 global licenses including MAS Major Payment Institution (Singapore), AUSTRAC (Australia), Class B from Bank Negara Malaysia, KSA Trade License, and SWIFT Supervised Financial Entity status.

TerraPay generates revenue through transaction fees on cross-border payment processing, API and integration services enabling partner connectivity to its global network, and FX and treasury services for multi-currency pre-funding and settlement. The B2B go-to-market targets financial institutions, MTOs, digital wallet providers, platforms, and marketplaces through API-first integration (REST API) and SWIFT RMA connectivity, supplemented by enterprise field sales for large partnerships and the TerraPay Engage partner portal for ongoing operations. Pricing is quote-based and not publicly disclosed, with custom negotiation per corridor, transaction volume, and service requirements. Customer base spans 100+ named partnerships including bKash, Safaricom M-Pesa, Wave, Yape, Nequi, PayPal, Visa, Mastercard, Mastercard, Sabre, Bancolombia, and TPBank, with documented outcomes such as 1000+ TPS throughput, 80% fee reduction, and 439% volume growth among named clients.

The company has raised over $230M cumulatively, including a $100M+ Series B led by IFC in April 2023, a $95M debt facility from IFC, ILX, and BII in July 2024, and a strategic equity investment from Visa in May 2023. Operational footprint includes 17+ legal entities across the UK, UAE, India, Singapore, Australia, Malaysia, Mauritius, South Africa, Kenya, Uganda, Tanzania, DRC, Netherlands, Italy, Saudi Arabia, USA, and Canada. The founder team (Ambar Sur as CEO, Ani Sane as CBO, Ram Sundaram as COO, Akbar Hussain as CLO, and Ganapathy Subramaniam as CFO) remains in place, augmented in 2024 by President Ruben Salazar Genovez (former Head of Visa Direct), President of Cross-Border Payments Sudhesh Giriyan, and Chief AI Officer Vanburn.

Name

TerraPay

Legal name

Terra Payment Services (UK) Limited

Website

https://terrapay.com

Company type

Private

Founded year

2010

Operating status

Operating

Headcount range

501–1,000 employees

Short description

TerraPay is a London-headquartered cross-border payments infrastructure provider connecting banks, digital wallets, and merchants across 156+ countries through a single API, serving financial institutions, MTOs, wallets, and platforms with real-time settlement and 32 global regulatory licenses.

Ownership category

akta.pro rank

Product category

Cross-Border Payment Infrastructure

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320), Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232)

SIC

Finance Services (6199)

akta.pro primary industry

Cross-Border & Multi-Currency Gateway Services (FSAMACAI)

akta.pro secondary industries

Cross-Border & FX Payments Platforms (BPAMAFAK), Cross-Border A2A & Bank Transfer Networks (FSAMAIAF), Remittance & Cross-Border Payment Rails (SWIFT, Local Clearing, RTP Connectivity) (FSAGAKAH), Interoperability for Payments (Cross-Chain/Layer-2 Payment Rails) (FSADAIAO), Merchant Payment Gateways (API/Hosted Checkout) (FSAMACAA)

Keywords

• Cross-border payments
• Payment infrastructure
• Remittance network
• Wallet interoperability
• Payment network API

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices17 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Operations, Infrastructure, Marketing or Sales

Revenue model

1. Cross-border Payment Processing: Revenue generated from processing cross-border payment transactions for financial institutions, MTOs, and platforms. Charges fees for payment delivery across wallet and bank account endpoints.
2. API and Integration Services: Revenue from API integration services enabling banks, fintechs, and wallets to connect to TerraPay's global payment network.
3. Treasury and FX Services: Revenue from FX conversions and treasury management services supporting multi-currency pre-funding and settlement.
4. MTO Payout Solutions: Revenue from enabling money transfer operators to expand corridor coverage and deliver faster payouts through TerraPay's global network.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels5 records

Core offering

TerraPay provides a global cross-border payment infrastructure that enables financial institutions, money transfer operators, digital wallets, and platforms to send and receive real-time payments across 150+ countries through a single API or SWIFT integration. The network connects 11,500+ banks, 200+ wallet partners, 7.5 billion+ bank accounts, and 3.7 billion+ mobile wallet endpoints, with 97% of transactions delivered in under one minute. Core capabilities include the Xend interoperability platform, TerraPay Verify for beneficiary validation, multi-currency treasury and FX management, and built-in KYC/AML compliance across 32 licensed markets.

Product overview

TerraPay operates a platform-plus-modules architecture centered on its Global Payments Network, which provides core cross-border payment infrastructure connecting banks, digital wallets, and payment systems across 150+ countries. The platform is extended through specialized solutions: Xend serves as the interoperability layer for wallet connectivity; TerraPay Verify provides real-time beneficiary verification; Global Workforce Payouts addresses payroll and gig economy payments; Media Payouts serves digital advertising and affiliate platforms; Travel Payments supports the travel industry; and dedicated solutions serve MTOs, wallet providers, and banks. All solutions share TerraPay's underlying regulatory footprint, API infrastructure, and network of 3.7 billion mobile wallets and 7.5 billion bank accounts.

Differentiator

Problem solved

Functional benefit

Brands

• TerraPay Verify: Real-time bank account and mobile wallet verification solution enabling businesses to validate beneficiary details for cross-border payments before initiating payment, available in 87+ countries for bank accounts and 49 for mobile wallets.
• Xend
• TerraPay Engage

Products and services

• TerraPay Global Payments Network Cross-border payments infrastructure connecting banks, wallets, and payment systems across 150+ countries, enabling real-time money movement to 3.7 billion mobile wallets and 7.5 billion bank accounts. Designed for banks, MTOs, digital wallet operators, and platforms.
• Xend Payments Interoperability Network Global Payments Interoperability Network enabling wallet-to-wallet, wallet-to-bank, and merchant payments across 60+ countries with 200+ wallet partners. Connects digital wallets to banks and enables NFC contactless payments at 150+ million merchant locations.
• TerraPay Verify Real-time bank account and mobile wallet beneficiary verification service covering 87+ countries for bank accounts and 49 for mobile wallets, reducing payment failures, fraud, and compliance risk through name matching and account status validation. Designed for any business initiating cross-border payments.
• Global Workforce Payouts Cross-border payout solution for employee payroll, contractor payments, freelancer payouts, and gig worker disbursements across 90 countries in 70 currencies. Enables real-time disbursements to wallets and bank accounts with built-in KYC/AML compliance and transparent FX. Designed for companies with distributed workforces.
• Media Payouts Global payout solution for digital advertising platforms, affiliate networks, and rights management companies. Supports bulk disbursements in 70 currencies across 90 countries with automated payout scheduling and tracking. Designed for digital media platforms and content creators.
• Travel Payments Cross-border payment solutions for travel agencies, airlines, hotels, and online travel platforms covering intra-company payments, refunds, reservation payments, and virtual card issuance in 14 currencies across 210 send and 150 receive countries.
• MTO Solutions Real-time payment solutions for Money Transfer Operators connecting to TerraPay's global network across 140+ countries. Offers instant P2P transfers, acquiring-led remittances, and real-time compliance monitoring with 97% of payments delivered in under a minute.
• Wallet Provider Solutions Digital wallet interoperability and payment solutions enabling wallet providers to offer global receive, spend, and cross-border wallet reach. Supports merchant payments, wallet-to-wallet interoperability, and access to 100+ digital wallet providers via the Xend network.
• Bank Integration Solutions Cross-border payment solutions for banks via SWIFT RMA connectivity or RESTful API integration, enabling real-time account-to-wallet and account-to-account payments across 158 countries with ISO 20022 compliance and SWIFT GPI end-to-end tracking.
• TerraPay Engage Partner Portal Partner portal for managing and automating payouts at scale, providing real-time transaction tracking, reconciliation support, and compliance controls for payroll, gig workers, creator payouts, and bulk disbursements.

Quantifiable outcome

• 97% of transactions delivered in under 1 minute
• +4 more outcomes

Named customers10 records

Segments7 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

AI capability5 records

Feature7 records

Partnerships

47 partnerships are on record, tiered major, core and minor.

• TPBankmajorTechnology or Integration · 21 July 2026Partnership to enable TPBank customers to send real-time outbound cross-border payments to destinations worldwide using TerraPay's payment network covering 156+ countries and territories. Allows TPBank to expand international payment offerings without bilateral banking relationships.
• MTN Mobile Money ZambiamajorTechnology or Integration · 13 July 2026Partnership with TerraPay's Xend platform to launch cross-border mobile money payments enabling merchants in Uganda, Rwanda, and Tanzania to receive payments from MoMo wallets, while customers can pay merchants in Zambia.
• RaenestmajorTechnology or Integration · 26 February 2026Partnership to enable faster cross-border payouts for freelancers in India and the Philippines. Supports Raenest's expansion into these markets by facilitating local currency payouts through TerraPay's network.
• Banco GanaderomajorTechnology or Integration · 20 February 2026Partnership to enable 24/7 real-time cross-border payments processing in Bolivia. Leverages Bolivia's national automated clearing house system for faster, secure inbound transfers. Targets corridors including Spain, Chile, Argentina, Switzerland, Brazil, and the US.
• Sabre Direct PaymajorStrategic or Co-development Partner · 16 February 2026Multi-year strategic agreement to expand instant cross-border payment capabilities for travel agencies and suppliers through Sabre Direct Pay. Enables agencies, airlines, and hotels to send instant bank transfers through TerraPay's network covering 155+ receiving countries.
• botim moneymajorStrategic or Co-development Partner · 3 February 2026Partnership to expand cross-border remittance capabilities from UAE to African markets including Uganda, Kenya, Ghana, and Egypt. Integrates TerraPay's global infrastructure into botim money's ecosystem, enabling real-time wallet validation and instant mobile wallet payouts for millions of UAE expatriates.
• MilXmajorTechnology or Integration · 28 January 2026Partnership to launch cross-border payout solutions for content creators and gig economy workers, enabling instant payments in local currencies across 70+ markets. Leverages TerraPay's network connecting 3.7B+ mobile wallets and 7.5B+ bank accounts.
• MastercardcoreStrategic or Co-development Partner · 11 December 2025Global partnership enabling digital wallet users to make contactless tap-and-go payments at 150+ million Mastercard acceptance locations worldwide. TerraPay's Xend interoperability platform connects wallet providers to Mastercard's global card network, targeting mobile money wallets, fintechs, and banks seeking NFC payment capabilities.
• Vodacom M-Pesa TanzaniamajorTechnology or Integration · 27 November 2025Vodacom Tanzania launched M-Pesa Global Payment allowing cross-border transactions through partnerships including TerraPay. Enables Tanzanian customers to make international transactions using Tap & Pay and TerraPay wallets.
• XendcoreTechnology or Integration · 24 November 2025Xend is TerraPay's proprietary Payments Interoperability Network launched in Dubai, connecting wallets, banks, and merchants into a unified global financial ecosystem. The network enables wallet users to transact with 11,500+ banks and 150M+ acceptance locations.
• MoMo RwandamajorTechnology or Integration · 17 November 2025Partnership to enable mobile-wallet users in Rwanda to receive international remittances from over 200 countries. Aims to improve financial inclusion and simplify cross-border transfers.
• CobreminorStrategic or Co-development Partner · 27 October 2025Partnership to facilitate cross-border payments for businesses in Latin America and other regions. Aims to provide real-time funds transfer and streamline international transactions leveraging TerraPay's infrastructure.
• VisacoreStrategic or Co-development Partner · 10 May 2023Visa made a strategic equity investment in TerraPay and entered into a collaboration to connect Visa solutions to TerraPay's global payments network. The partnership aims to streamline cross-border digital payments for consumers and SMBs, particularly in emerging markets, focusing on Visa Direct integration across 108 countries.
• bKashcoreTechnology or IntegrationLong-standing partnership enabling bKash to process remittances from 60+ countries to Bangladesh. TerraPay's technology enabled bKash to become the top mobile financial services provider processing remittances with 99.9% transactions received in under 30 seconds.
• Safaricom M-PESAcoreTechnology or IntegrationTerraPay (Mobex) partners with Safaricom's M-PESA to facilitate seamless outbound cross-border remittances.
• Attijariwafa bankmajorTechnology or IntegrationPartnership to facilitate cross-border payments in Morocco, expanding TerraPay's footprint in the MENA region.
• BancolombiamajorTechnology or IntegrationPartnership to strengthen cross-border remittances across Colombia, one of Latin America's largest markets.
• Wave Mobile MoneymajorTechnology or IntegrationPartnership to enable remittances to 2.5 million active digital wallet users in West Africa, expanding TerraPay's mobile money reach.
• PayPalmajorTechnology or IntegrationPartnership to expand access to cross-border payments across Middle East and Africa regions.
• Al Ansari ExchangemajorTechnology or IntegrationPartnership to simplify money transfer services in the UAE.
• Orange MoneymajorTechnology or IntegrationPartnership to enable mobile money services for customers in various African markets.
• YapemajorTechnology or IntegrationPartnership with Peru's super app to enable over 16 million users to receive remittances digitally.
• Tenpay GlobalmajorTechnology or IntegrationPartnership to enable international money transfers to more than 1 billion Weixin and WeChat users.
• D360 BankmajorTechnology or IntegrationPartnership to enable instant, compliant inbound payments to Saudi Arabia.
• Cooperative Bank of OromiamajorTechnology or IntegrationPartnership to launch blockchain-based settlement for inward remittances to Ethiopia.
• EnzamajorStrategic or Co-development PartnerPartnership announced to transform the payments landscape in Africa, enhancing financial inclusion.
• XTransfermajorTechnology or IntegrationPartnership to empower global SMEs with enhanced cross-border payment solutions.
• Dubai Duty FreemajorTechnology or IntegrationPartnership enabling 100+ million customers for instant digital wallet payments at Dubai Duty Free.
• Trust BankmajorTechnology or IntegrationPartnership to launch first-of-its-kind international payment solution for Bangladeshi students going abroad to study.
• Banque du CairemajorTechnology or IntegrationPartnership to enable seamless remittance payouts across Egypt.
• Nagad LimitedmajorTechnology or IntegrationPartnership enabling expatriate Bangladeshis to access seamless cross-border money transfers.
• Stanbic UgandamajorTechnology or IntegrationPartnership to enhance cross-border payments in Uganda.
• United Bank of Africa SenegalmajorTechnology or IntegrationPartnership to enable reception of international remittance transfers and enhance financial inclusion in Senegal.
• Wave Digital FinancemajorTechnology or IntegrationPartnership to enable reception of international remittance transfers and enhance financial inclusion in Senegal.
• Banco G&T ContinentalmajorTechnology or IntegrationStrategic alliance to revolutionize cross-border remittances in Central America.
• NequimajorTechnology or IntegrationPartnership to transform remittances in Colombia.
• Small World Money TransfermajorTechnology or IntegrationStrategic partnership to enhance mobile wallet services in Senegal.
• MayamajorTechnology or IntegrationPartnership to empower seamless money transfers for Filipinos worldwide.
• MagnatimajorTechnology or IntegrationCollaboration to revolutionize cross-border payments in the MENA region.
• Airtel MoneymajorTechnology or IntegrationPartnership to offer mobile money services for Tanzanian customers traveling within the UAE.
• PaparamajorTechnology or IntegrationPartnership to revolutionize Turkish cross-border payments.
• Alfardan ExchangemajorTechnology or IntegrationPartnership for advanced digital cross-border remittance solutions.
• OMTmajorTechnology or IntegrationPartnership to empower Lebanese businesses with new cross-border payment solutions.
• Qasemi Islamic Microfinance BankmajorTechnology or IntegrationPartnership to enable real-time inbound payments to South Yemen accounts and wallets.
• KCBmajorTechnology or IntegrationPartnership to enhance cross-border payment capabilities in Kenya.
• EcobankmajorTechnology or IntegrationPartnership to expand cross-border payment services across Africa.
• UBAmajorTechnology or IntegrationPartnership to expand cross-border payment services across Africa.

Scale indicators15 records

Recent moves6 records

Expansion highlights7 records

Emerging players

• Zepz (Sendwave / WorldRemit): Zepz operates Sendwave and WorldRemit, two large digital remittance brands focusing on mobile-money corridors in Africa and Asia. It is both a potential competitor for corridor volume and a partner using TerraPay-adjacent wallet infrastructure to reach last-mile recipients.
• Payoneer: Payoneer is a Nasdaq-listed cross-border payments platform serving freelancers, marketplaces, and SMBs with multi-currency receiving accounts and payouts. It overlaps with TerraPay's Platform/Marketplaces and Global Workforce Payout verticals, particularly for creator and gig-economy use cases.
• Remitly: Remitly is a Nasdaq-listed digital remittance company serving consumers sending money to 170+ countries, with a strong mobile-wallet and bank-deposit payout network. While B2C-led, its emerging-market wallet integrations and corridor coverage overlap with TerraPay's downstream payout partners (e.g., M-Pesa, bKash).

Broad incumbents

• Western Union: Western Union is the largest incumbent cross-border money transfer operator with a global agent network covering 200+ countries. As a broad incumbent expanding its digital and wallet capabilities, it competes with TerraPay for remittance and MTO business while also being a potential partner for last-mile distribution.
• MoneyGram: MoneyGram is a global cross-border money transfer company operating in 200+ countries with both retail agent and digital channels. As a long-standing incumbent pushing digital transformation, it competes with TerraPay for remittance corridors and offers a partner alternative to TerraPay's MTO infrastructure.
• Wise (formerly TransferWise): Wise is a publicly listed cross-border payments company with deep multi-currency infrastructure and a strong consumer/sMB brand. While more B2C-tilted than TerraPay, its underlying cross-border rails and partnerships with banks/wallets make it a broad incumbent competitor, especially as it pushes into B2B payouts and embedded use cases.

Direct peers

• dLocal: dLocal is a Nasdaq-listed payments platform focused on emerging markets, enabling global merchants to accept and pay out in 40+ emerging-market countries. It shares TerraPay's emerging-market, multi-country, multi-rail DNA and competes for similar cross-border payment flows, particularly in LATAM, Africa, and APAC.
• Thunes: Thunes operates a global payments network connecting mobile wallets, banks, and payment service providers across 130+ countries. It is the closest direct competitor to TerraPay, offering very similar cross-border B2B payout infrastructure with strong emerging-market wallet coverage and an overlapping target customer base of MTOs, wallets, and banks.
• Nium: Nium is a global real-time cross-border payments infrastructure provider offering bank-to-bank, wallet, and card-based payouts across 100+ countries. It targets similar enterprise customers (banks, fintechs, platforms) and competes head-to-head with TerraPay in B2B cross-border payment orchestration.

Regional players

• Flutterwave: Flutterwave is a leading pan-African payments technology company providing cross-border payment, card issuing, and business payment solutions across 30+ African countries. While more Africa-focused, it overlaps with TerraPay's African wallet/bank integrations and competes for African fintech and MTO customers.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@terrapay
• LinkedInlinkedin.com/company/terrapay
• Xx.com/TerraPay
• Facebookfacebook.com/terrapay

Compliance8 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles15 records

Funding overview

Funding rounds8 records

Investors10 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about TerraPay