Fabrick taps Terrapay to innovate cross-border payments in Europe

By Gloria Methri

Open Finance operating firm Fabrick is expanding its geographical footprint by partnering with TerraPay, a company simplifying global money movement.

Initially focused on the Italian market, this partnership will enable businesses to access a unified platform that streamlines payment processes, reduces operational costs, and ensures compliance with regulatory requirements.

It bolsters Fabrick’s international growth and consolidation strategy, building on its presence in Italy, Spain, and the United Kingdom. Following the recent acquisition of finAPI, which enabled Fabrick to enter the DACH region, Fabrick has continued to solidify its position in Europe’s digital payments landscape.

With TerraPay’s extensive global network and by leveraging Fabrick’s Banking-as-a-Service platform model, the two are creating a unified platform with tailored offerings that streamline payment processes, enhance security, and elevate the customer experience for businesses and financial institutions.

Moreover, TerraPay’s global infrastructure aligns with Fabrick’s mission to support Open Finance across different domains, including cross-border payments.

TerraPay, regulated by the FCA, the Bank of Italy, and in 30 other jurisdictions globally, excels in international anti-money laundering (AML) and fraud prevention regulations. At the same time, Fabrick offers deep knowledge of Italian and EU compliance standards. Hence, both have a shared expertise in navigating the complexities of their respective regulatory environments.

TerraPay will also become a member of Fintech District, Fabrick’s FinTech ecosystem aggregator. This will give TerraPay access to a network of over 300 FinTech and TechFin companies.

Paolo Zaccardi, CEO and Co-Founder of Fabrick, said, “We are delighted to announce our partnership with TerraPay, which provides us with a gateway to the world’s most extensive cross-border payments network. By integrating TerraPay’s vast global reach with our innovative solutions, we not only enhance our service offerings but also reinforce Fabrick’s broader strategy of global expansion.”

Ani Sane, Co-Founder and Chief Business Officer at TerraPay, stated, “Our collaboration with Fabrick marks a significant milestone in our efforts to expand our footprint in Europe. By combining our expertise in payment infrastructure with Fabrick’s innovative approach to banking services, we are poised to deliver our value proposition to help Italian and European enterprises and banks streamline the complexity of cross-border payment.”