India Shines as TerraPay's Key Hub, Contributes Over 25% to International Remittances

MUMBAI, 5^th SEPTEMBER, 2023 (TGN):

TerraPay, a leading global payments infrastructure company, participated in the second edition of the Global Fintech Fest (GFF). TerraPay is a licensed payments provider with 29 licenses and regulatory approvals globally &  India plays a significant role in TerraPay's global operations, contributing more than 25% of inbound international remittances

Last year, TerraPay signed a MOU with the National Payments Corporation of India (NPCI). The company's 92% transaction success rate in India and its fastest transaction completed in an astonishing 9.58 seconds, are testament to its commitment to speed & efficiency. TerraPay's revenue has witnessed an impressive annual growth rate of 13% in FY 2022-23. TerraPay is keen on forging more partnerships in India - a key market for the firm. Its real-time transaction and risk monitoring capabilities, and a commitment to ensuring 100% compliance makes it a trusted partner for businesses and individuals who need to send and receive money across borders securely and efficiently.

The company has a long history of working with partners to drive innovation and progress in the world of international remittances and payments. TerraPay has partnered with MTOs, the United Nations Capital Development Fund (UNCDF), funded by IFC, and large mobile wallet operators to enable cross-border payments. These partnerships have helped to make it easier and more affordable for people to send and receive money across borders, regardless of their location or financial circumstances.In addition to its partnerships, TerraPay is also committed to providing innovative and secure payment solutions that meet the needs of businesses and individuals around the world. The company offers a comprehensive suite of global payment solutions, including international money transfers, frictionless payouts, and alternative payment methods. TerraPay's extensive network spans over 110 source countries, with Saudi Arabia, Qatar, Australia, the United Kingdom, and the United Arab Emirates ranking as the top five source countries.

“We are excited to be a part of  the GFF second year in the row and to have shared our insights on the future of global payments,” said Mr. Ani Sane, Co-Founder & CBO of TerraPay. “At TerraPay, we're dedicated to a future of global collaboration, promoting inclusivity, resilience, and sustainability. Our achievements reflect our unwavering focus on efficiency. India's pivotal role demonstrates the transformative impact of cross-border remittances. Our global partnerships & widespread network exemplify our commitment to accessible and affordable cross-border payments. Our suite of solutions ensures secure, seamless global transactions, while 29 licenses and compliance underscore our reliability. We're excited to continue shaping a responsible financial ecosystem that empowers individuals and businesses worldwide. We look forward to forging more partnerships in India" He added

About TerraPay

Headquartered in the United Kingdom, TerraPay believes that the smallest payment deserves a borderless journey as safe as the largest. The group has been building an ever-expanding payments highway that empowers businesses to create transparent customer experiences with an uninterrupted, secure, and real-time global passage for every payment, however small or large. Registered and regulated across 29 global markets, TerraPay is one of the leading global partners to banks, mobile wallets, money transfer operators, merchants, and financial institutions, creating a more expansive and inclusive international financial ecosystem. With access to an extensive network of 7.5Bn + bank accounts, 2.1Bn + mobile wallets, across 121 receive countries and 210 send countries, TerraPay enables its partners to become beacons of the promise of global financial inclusion.

For more information, visit terrapay.com