TerraPay - Launch pitch at The Phocuswright Conference 2023

TerraPay is an international payment network that connects merchants, banks, payment platforms, mobile wallet service providers and money transfer operators to facilitate seamless, cross-border transfer of funds for both B2B and B2C transactions. 

The company is currently registered and regulated in 29 global markets and provides solutions for travel as well as e-commerce, social media and business payroll.

TerraPay’s newest solution is card-to-account, which transforms supplier cash payments into virtual card payments.

As TerraPay’s general manager of payments, Oliver Fellowes, explained during his Launch pitch at The Phocuswright Conference, the solution fills an “acceptance gap” between buyers that want to use cards and suppliers that don’t accept them.

“Buyers like cards, but suppliers like bank transfers. So with card-to-account TerraPay can take funds from any virtual card and deliver those funds directly to the supplier’s bank account instantly through the TerraPay network,” he said.

Fellowes went on to explain benefits for buyers, suppliers, issuers and acquirers and said TerraPay can deliver card-to-account in 124 countries and 71 currencies in under one minute. 

Watch his full Launch presentation below.

Following the Launch pitch, TerraPay’s general manager of travel solutions and business development, Maria Sellar, spoke to PhocusWire editor in chief Mitra Sorrells in the PhocusWire studio about the company’s growth and future plans.