TerraPay enhances partnership with Swift 24 July 2024UK Reporter: Klea Neza
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TerraPay has announced the enhancement of the cross-border payments experience for businesses and consumers using their existing Swift connectivity.
The company says financial institutions can now send money directly to more than 2.1 billion mobile wallets around the world.
Payments initiated by financial institutions over Swift will reach TerraPay’s system with speed and efficiency, and with end-to-end transparency from account to wallet, powered by Swift’s transaction tracking capabilities, say the firms.
Ambar Sur, co-founder and CEO of TerraPay, says: “This development represents a strategic leap forward in our mission to revolutionise the cross-border payments landscape. By marrying Swift’s industry-leading capabilities with TerraPay’s advanced digital infrastructure, we are empowering financial institutions to meet evolving customer needs with unprecedented speed and transparency.”
Thierry Chilosi, chief business officer at Swift, comments: “It’s always exciting to see financial service providers like TerraPay utilise Swift to innovate their offering and deliver an enhanced customer experience. It underlines the broad utility of Swift’s highly secure, globally inclusive network, and demonstrates how we’re equipping our community to meet the rapidly rising expectations for choice and simplicity in cross-border transactions.”
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