Event: 2023 Phocuswright Conference
Product: TerraPay
HQ: London, U.K.
Principal(s): Ambar Sur (CEO), Ani Sane (CBO), Ram Sundaram (COO), Akbar Hussain (Chief Legal & Compliance Officer), Ganapathy Subramaniam (CFO)
Product Description: TerraPay’s card to account product will enable corporates to pay suppliers using a commercial card, even when the supplier does not accept card. The supplier will receive payment into their bank account or mobile wallet, in the same way they are accustomed to. As TerraPay has its own acquiring and payout rails, we are uniquely positioned to make this model work for all parties on a cross border basis.
Business Model: Registered & regulated across 29 global markets, TerraPay is a leading global partner to banks, mobile wallets, money transfer operators, merchants, and financial institutions, creating a global payments ecosystem that supports a range of diverse payment types and instruments. With a single integration, we connect our partners to this global network. Our products include payouts, virtual cards, acquiring, wallet enablement & card to account.
Competitors: There are a handful of companies that support a similar model, but we don’t call them competitors as they are welcome to use our infrastructure to enhance their solution!
Competitive Edge: TerraPay has developed in house acquiring and payout rails so, whereas most providers focus on cracking domestic B2B flows, we provide the opportunity to go global.
