TerraPay
TerraPay connects payment providers globally to enable frictionless cross-border transactions.
TerraPay is a mobile-first international payment network that interconnects financial services providers—banks, mobile wallets, money transfer operators, and payment platforms—through a single API. Operating as an asset-light, network-heavy model, TerraPay enables seamless cross-border fund transfers to 139 receive countries with access to 7.5+ billion bank accounts and 2.1+ billion mobile wallets. The platform reduces integration friction for partners while capturing transaction routing and settlement economics, positioning itself as a preferred rails provider for remittances, gig platforms, and marketplaces in emerging markets.
Problem solved
Financial services providers face high integration costs and fragmented payment rails when enabling cross-border transactions to multiple countries and payout channels.
Target customer
Financial services providers, mobile wallet operators, money transfer operators, banks, payment platforms, and fintech companies handling remittances and international payments in emerging markets.
Founders
A
Ambar Sur
Founder & CEO
Serial entrepreneur with 30+ years in fintech and telecom; founded CellCloud Technologies (merged with Mahindra Comviva in 2002), then served 13+ years at Comviva as CMO and SVP; MS in Electrical Engineering from NYU, BS from Virginia Tech.
R
Ram Sundaram
Co-Founder
26+ years leading large tech and operations teams across financial services, telecom, manufacturing, information security, and biometrics.
A
Aniruddha Sane
Co-Founder
20+ years driving business development for Electronic Payments and Services, steering partnerships across global markets.
A
Akbar Hussain
Co-Founder
Seasoned corporate and M&A attorney with 15+ years of experience guiding regulatory compliance and establishing world-class compliance standards.
Funding history
Series A
$8M
2019
Led by IFC
· Unknown
Conventional Debt
$9.6M
March 2020
Led by Unknown
· Unknown
Series B
$100M+
April 2023
Led by IFC
· Prime Ventures, Partech Africa, U.S. International Development Finance Corporation, DFC
Debt Facility
$95M
July 2024
Led by IFC
· ILX, OP Finnfund Global Impact Fund I, BIO
Total raised:
$267M
Industries
Pricing
Per-transaction routing fees, FX margins, and settlement spreads model. Scales with transaction volume rather than balance-sheet intensity. Specific pricing not publicly available.
Notable customers
Western Union, Network International, Visa, CongoPay, bKash
Integrations
bKash, Western Union, Network International, Visa
Tech stack
jQuery (JavaScript libraries)
AOS (JavaScript libraries)
Swiper (JavaScript libraries)
Bootstrap (UI frameworks)
PWA
Open Graph
Linkedin Insight Tag (Analytics)
Google Analytics (Analytics)
HSTS (Security)
Apache (Web servers)
Microsoft 365 (Email)
Amazon S3 (CDN)
Linkedin Ads (Advertising)
Amazon Web Services (PaaS)
Website
Competitors
Airwallex
Broader fintech platform focused on payouts and collections for marketplaces; less specialized in emerging market mobile wallet integrations.
Nium
Platform-based B2B payments with stronger focus on enterprise treasury; less tailored to remittance corridors and gig platforms.
Zepz
Consumer-facing remittance platform; competes directly with consumer apps rather than empowering them as a network layer.
Thunes
Similar rails-agnostic positioning for micro-payments but less depth in emerging market mobile wallet ecosystems.
SWIFT
Legacy dominance in high-value corporate treasury flows; TerraPay optimized for mid-market and micro-payments with faster settlement.
Why this matters: TerraPay has established itself as a critical infrastructure layer for cross-border payments in emerging markets, with $267M raised and recent $95M debt facility showing strong confidence from development finance institutions. The company operates a differentiated network model that empowers other platforms rather than competing directly, positioning it as essential rails for the gig economy and remittance boom in Africa, Asia, and emerging markets.
Best for: Financial services providers, payment platforms, and money transfer operators needing to expand international reach across emerging markets with minimal integration overhead.
Use cases
Mobile Wallet Remittance Enablement
bKash leveraged TerraPay to become a top mobile financial services provider for processing inbound remittances globally. By integrating TerraPay's platform, bKash gained seamless access to multiple send corridors and payment rails without building custom integrations for each route, enabling high-volume remittance handling with customer convenience and flexibility.
Marketplace Payouts Across Borders
Gig platforms and marketplaces use TerraPay to pay workers and vendors across 139+ countries via their preferred receive methods—bank accounts, mobile wallets, or agent networks. One API integration eliminates the need to build custom connections to dozens of local payment providers and rail operators.
Multi-Currency Corridors for Fintech Platforms
Payment platforms integrate TerraPay to offer customers affordable, fast cross-border transfers with real FX rates and transparent settlement. The network model lets platforms focus on user experience while TerraPay handles regulatory compliance, liquidity, and last-mile payout logistics across 30+ regulated markets.
Alternatives
Wise
Consumer-first approach with retail transfer focus; TerraPay is B2B rails provider empowering other platforms rather than competing with them.
MoneyGram
Legacy agent-based network with limited API-first integration; TerraPay offers modern platform integration and deeper mobile wallet connectivity.
PaySend
B2B platform for business payments; less specialized in emerging market mobile wallet ecosystems and remittance-specific routing.
FAQ
What does TerraPay do? +
TerraPay is a mobile-first international payment network that interconnects financial services providers through a single API, enabling cross-border transactions to 139 countries. It provides access to 7.5+ billion bank accounts and 2.1+ billion mobile wallets, handling regulatory compliance, FX conversion, and settlement across 30 regulated markets. Partners use TerraPay to offer seamless remittances and payouts without building custom integrations for each corridor.
How much does TerraPay cost? +
TerraPay uses a per-transaction model based on routing fees, FX margins, and settlement spreads. Pricing scales with transaction volume. Specific rates are not publicly available; contact TerraPay directly for enterprise pricing.
What are alternatives to TerraPay? +
Airwallex (broader fintech platform for payouts and collections), Nium (B2B enterprise payments focus), Zepz (consumer remittance app), Thunes (rails provider for micro-payments), Wise (consumer-first transfers), and MoneyGram (legacy agent network).
Who uses TerraPay? +
Financial services providers, mobile wallet operators, banks, money transfer operators, and payment platforms. Notable public customers include Western Union, Network International, Visa, bKash, and CongoPay.
How does TerraPay compare to competitors like Airwallex or Nium? +
TerraPay operates as an asset-light network layer rather than a full fintech platform, making it complementary to consumer apps instead of competitive. It specializes in emerging market corridors and mobile wallet integrations with faster, cheaper micro-payments. Airwallex and Nium are broader platforms; TerraPay excels in remittances and gig economy payouts where speed and low cost matter most.
Tags
cross-border payments
remittances
payment rails
mobile wallets
emerging markets
API integration
fintech infrastructure