The alliance further expands upon Western Union’s account payout network for sending remittances directly into customers’ mobile wallets across Europe, Africa, Asia and Latin America.
TerraPay’s payments network connects financial instruments internationally. The company’s interoperability engine enables customers to send and receive transactions across diverse payment instruments and platforms – enabling mobile wallets in international, regional and domestic markets.
The Western Union global account payout network connects to local banks, national payment settlement switches, third-party payment processors, mobile wallets, prepaid and other card connections.
TerraPay, the world’s first mobile payments switch is a global transaction processing, clearing and settlement service for mobile wallets. It provides the interoperability engine that enables customers to send and receive real-time transactions across diverse payment instruments, platforms, and regions. TerraPay is a B2B company registered and regulated in several jurisdictions. In the UK, it is regulated by the Financial Conduct Authority (FCA).
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