XTransfer, the world’s leading and China’s top B2B cross-border trade payment platform, is excited to announce a strategic partnership with TerraPay, a global leader in money movement. This alliance aims to revolutionize payment solutions for small and medium-sized enterprises (SMEs) involved in international trade, offering secure, compliant, fast, and cost-effective cross-border payment and fund collection solutions.
By leveraging TerraPay’s global payments infrastructure, XTransfer will enhance its service offerings, enabling customers to execute local payments on a global scale and settle transactions in local currencies across 136 countries and regions, including emerging markets such as Africa, Latin America, and Southeast Asia. This partnership will significantly boost cross-border trade and expand the range of payment methods available to SMEs.
Violas Xiao, Local CEO of Singapore at XTransfer, said, “This partnership is a significant milestone for XTransfer, as it greatly enhances our global payment capabilities. By leveraging TerraPay’s extensive global payments network, XTransfer has achieved significant cost savings and accelerated our market entry time, eliminating the need for local rebuilding efforts. This collaboration further exemplifies our dedication to empowering SMEs in their global expansion and enhancing global competitiveness through innovative trade payment solutions”.
Sukesh Malliah, Vice President – Asia Pacific at TerraPay, expressed his enthusiasm, stating, “We are thrilled to partner with XTransfer to enhance cross-border payment solutions for SMEs globally. This partnership underscores our commitment to providing innovative and reliable financial solutions that drive efficiency and inclusivity. Together, we aim to empower SMEs with the tools they need to succeed in the global marketplace, fostering economic development and connectivity in emerging markets.”
This partnership aligns with TerraPay’s goals of expanding opportunities for global businesses and promoting financial inclusion, particularly in underserved markets. By collaborating with XTransfer, TerraPay reinforces its position as a key player in the global payments industry, enhancing its capacity to serve a diverse range of clients across multiple regions.
