TerraPay and Swift Collaborate to Enhance Global Account-to-Wallet Payments
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TerraPay, a leading FinTech firm, has partnered with Swift to enable financial institutions to directly transfer funds to over 2.1 billion mobile wallets worldwide via the existing Swift network. This collaboration aims to improve the efficiency and transparency of cross-border payments, benefiting both businesses and consumers.
Swift connects over 11,500 financial institutions across more than 200 countries, offering robust transaction tracking capabilities. The partnership leverages Swift’s extensive network and TerraPay’s innovative payment infrastructure to enhance the cross-border payment experience, addressing the growing demand for faster and more transparent international transactions.
TerraPay, regulated in 30 global markets, simplifies global money movement with a single connection to its network, covering over 7.5 billion bank accounts and 2.1 billion mobile wallets. Founded in 2014 and headquartered in London, TerraPay has expanded globally with significant investments.
This initiative underscores TerraPay’s commitment to financial inclusion and aims to integrate approximately 600 million unbanked consumers into the global financial system.