- TerraPay, which describes itself as a global infrastructure firm, has confirmed that it will be working with an Australian fintech firm called Zai.
- The two firms are believed to be aiming to offer a high-speed international payments system.
- “Through transparency and real-time credits led by industry benchmark compliances, we believe we will strengthen the real-time transactions in Australia, furthering our mission of creating cashless economies,” said a senior figure at TerraPay.
TerraPay, a payments infrastructure company, has announced a new partnership with a financial technology firm in Australia to improve fast money transfer options.
TerraPay confirmed that it will be working with a fintech company called Zai.
Zai, which is based in Melbourne, will work with TerraPay to boost fast money transfer routes in Australia and in the wider region.
The two firms are believed to be aiming to offer a high-speed international payments system.
It is thought that they are committed to building an economy in Australia that does not require the use of cash – or that significantly reduces it.
They are also believed to be aiming to increase the take-up of omnichannel solutions.
In a statement, a senior figure at TerraPay said that the market in the Asia-Pacific region was picking up digital payments quickly.
“Australia as a market is adopting digital payments at a rapid pace, making it a lucrative market for us,” said Sukesh Malliah, the regional director of the Asia-Pacific region.
“Our partnership with Zai will allow us to empower Australian customers with our innovative payments platform and technology, providing them with access to efficient, scalable and affordable means to send real-time payments across our deep-rooted global payments network,” he continued.
“Through transparency and real-time credits led by industry benchmark compliances, we believe we will strengthen the real-time transactions in Australia, furthering our mission of creating cashless economies.”
For Zai, chief product officer Sanjeev Kumar said that the company had made this partnership as part of a push to grow in size and to enter the collection of global markets to which TerraPay has access.
“This partnership demonstrates our ambition to scale beyond borders. The collaboration provides us with the opportunity to tap into TerraPay’s widespread network of 26 global markets and enable customers globally to make real-time payments at a low cost,” said Kumar.
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