Zai and TerraPay partner to accelerate cross-border payments globally
8 September 2022 — Zai, the global financial technology company delivering embedded finance orchestration solutions, has announced a partnership with TerraPay, a leading global payments infrastructure company. This partnership enhances both companies’ ability to scale their offerings and deliver real-time, transparent cross-border payments globally.
Zai supports businesses across a wide range of industries internationally – from fintechs to property technology companies – in simplifying, streamlining, and scaling complex payment workflows. Its sister brand, CurrencyFair, is a cross-border currency exchange platform offering competitive rates, fast, reliable transfers, and excellent customer service.
This partnership bolsters both Zai and CurrencyFair’s product suite, with better coverage across the global payments ecosystem, as well as collections and payout capabilities across multiple channels in the markets they operate in. The partnership also improves TerraPay’s collection and payout offering in markets where Zai and CurrencyFair are leaders.
It is another significant milestone in Zai’s global expansion plans. Zai has close to 250 employees currently, with plans to grow to 450 by 2025, and is expanding its presence across APAC, UK, USA and the Middle-East in the coming year.
Sanjeev Kumar, chief product officer of Zai commented on the partnership: “It’s exciting to partner with a leading global payments company like TerraPay – and what makes this partnership so appealing is the improved product suite for both companies as Zai continues to scale globally.
“This partnership builds upon our already market-leading products, providing fast cross-border payments that are completely transparent, for our B2C, B2B and enterprise customers. Zai is launching in multiple markets over the coming year and expanding our global footprint, and we look forward to working with Terrapay and growing this partnership.”
Registered and regulated across 26 international markets, TerraPay is a leading global partner to banks, mobile wallets, money transfer operators, merchants, and financial institutions, creating a more expansive and inclusive international financial ecosystem.
Sheshagiri (Sukesh) Malliah, regional director – APAC, at TerraPay, said: “We are thrilled to onboard Zai as a global trusted partner, to improve both Zai and TerraPay’s offerings in key markets over the coming years. This partnership allows us to improve both Zai and its sister brand CurrencyFair’s cross-border offering with faster payments for both consumer and business customers.
This partnership will also strengthen our offering in the countries where Zai is the market leader, so we are delighted to grow with Zai over the coming years as it expands its presence globally – furthering our mission of creating cashless economies across the world.”
Zai is boldly transforming the future of financial services and powering customers by making innovative financial services accessible to all. Zai’s payment API is a core capability within its suite of embedded finance products and services, helping businesses manage multiple payment workflows and move funds. Its innovative platform applies expertise in real-time payments to a reliable micro-service architecture to enable authentication, liquidity, payment and settlement. Also under Zai’s umbrella is CurrencyFair, a global currency exchange platform serving consumers and businesses with competitive exchange rates. Zai has close to 250 employees, with plans to grow to 450 by 2025, and is expanding its presence across APAC, UK, USA and the Middle-East. To find out more about the 10-year history of Zai visit The Story of Zai.
CurrencyFair was launched in Ireland in 2010 and offers an online cross-border payment and foreign exchange service to customers globally. It currently offers 22 currencies in well-established currency corridors for international payments, with plans to offer over 40 currencies by the end of 2022. For more information, please visit CurrencyFair’s website.
Headquartered in The Netherlands, TerraPay believes that the smallest payment deserves a borderless journey as safe as the largest. The group has been building an ever-expanding payments highway that empowers businesses to create transparent customer experiences with an uninterrupted, secure, and real-time global passage for every payment, however small or large. Registered and regulated across 26 global markets, TerraPay is a leading global partner to banks, mobile wallets, money transfer operators, merchants, and financial institutions, creating a more expansive and inclusive international financial ecosystem. With access to payments infrastructure that spans the globe, their partners become beacons of the promise of global financial inclusion.
For more information, please visit terrapay.com