Cross-border
money movement is a critical function for the travel industry – fueled in part
by growing acceptance of virtual cards and mobile payments.
But a successful
cross-border payment strategy requires a focus on compliance with the myriad of
regulations that exist in different markets.
As a global
payment solutions company working to make payments seamless, digital and fast,
TerraPay works with travel companies around the world.
“We are the plumbers for cross-border money movement,” said
Ani Sane, co-founder and chief business officer of TerraPay.
“We are in the background, nobody should know us. We are
doing the last mile payouts.”
Sane spoke to PhocusWire editor in chief Mitra Sorrells in
the PhocusWire studio at Phocuswright Europe 2024 in Barcelona.
He explained that he and his co-founders started TerraPay in
2014 based on the premise that if an SMS message can be delivered instantly,
globally, then money should be able to transfer in that way too.
Today TerraPay has licenses and regulatory approvals in 31
countries. Sane discussed how the company is now focused on building its
capabilities in some emerging markets, including in the Middle East, Africa,
Asia and Latin America.
“Once we build infrastructure for regulations, money
movement becomes easy,” he said.
Watch the full discussion below.
From our partners at Phocuswright Europe 2024: TerraPay