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TerraPay partners with Multipass to redefine cross-border payments

By Gloria Methri

May 07, 2024

  • borderless payments
  • Cross Border Payments
  • Europe
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TerraPay, Multipass, Remittances, Cross Border Payments, FinTech, UK, Europe, UAETerraPay has joined forces with Multipass, a challenger bank in the FinTech sector, to redefine cross-border payment solutions for corporate customers. This strategic collaboration aims to offer reliability, efficiency, and cost optimisation to businesses operating in the UK, Europe, and beyond.

Through this partnership, Multipass gains access to TerraPay’s global payments network, expanding its reach to new jurisdictions and local payouts in multiple currencies. Both organizations offer 24/7 customer support and dedicated personal account managers, emphasising the importance of human interaction alongside technological advancement.

Sudhesh Giriyan, President of Cross-Border Payments at TerraPay, expressed enthusiasm about the partnership, stating, “TerraPay is thrilled to collaborate with Multipass to revolutionize cross-border payments for their corporate customers. This partnership underscores our dedication to providing innovative solutions that drive efficiency, reliability, and cost optimization.”

Rami Chedid, CEO of Multipass for the UAE and the Middle East, said, “Our partnership with TerraPay represents a significant step forward in our commitment to deliver secure and fast payment solutions to medium-sized entrepreneurs trading internationally. All while prioritizing security and efficiency in speed and costs. As we continue to work on our expansion plans in the UAE, this trusted partnership gives a new level of importance, offering our clients practically a global payment reach.”

He continued to state that Multipass has initiated the application process for a financial services license in UAE to be regulated by The Dubai Financial Services Authority (DFSA). Having received the in-principal approval, the company will launch operations very soon.

“This operational expansion will broaden the global payment reach for UAE-based businesses from the very first day, providing them with a competitive edge and opportunities for business growth,” he explained.

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