TerraPay ties up with Deutsche Bank on cross-border pay

TerraPay has entered into a collaboration with Deutsche Bank, giving it access to the bank's correspondent banking network.

The arrangement also includes Deutsche Bank's payments services and foreign exchange offering. TerraPay said the partnership is intended to strengthen its settlement infrastructure for cross-border transactions.

Cross-border payments groups have increasingly turned to established banks to extend settlement reach and manage currency flows across multiple markets. Banks, in turn, have sought closer ties with fintech providers that bring distribution networks and specialist payment rails in regions where demand for faster international transfers is growing.

For TerraPay, the deal adds another layer to a network that connects banks, mobile wallets, cards and money transfer operators. Its network spans receiving and sending countries worldwide and connects to more than 7.5 billion bank accounts across more than 156 countries, alongside 3.7 billion wallets through its Xend payments interoperability network.

Deutsche Bank's role centres on correspondent banking, which underpins much of international money movement by allowing financial institutions to settle payments through established banking relationships. Access to that network can be particularly important for fintech firms that need dependable routes for US dollar settlement and foreign exchange support across jurisdictions.

The collaboration is expected to improve efficiency, speed and reliability in US dollar settlement. That matters in international payments, where delays, fragmented banking links and foreign exchange complexity can raise costs for payment providers and their customers.

Network reach

TerraPay is based in London and operates across multiple regulated markets. It works with banks, digital wallets, money transfer operators, corporates and fintech platforms, positioning itself as infrastructure behind other financial services brands rather than serving consumers directly.

Its business model reflects a broader shift in payments, with specialist infrastructure firms acting as connectors between local payout methods and global settlement systems. In practice, that can mean linking a payment initiated by a bank or wallet in one country to a recipient's account or mobile wallet in another, while managing compliance and settlement in the background.

Deutsche Bank remains one of Europe's largest banking groups and has a long-standing presence in transaction banking and cross-border payments. The collaboration also reflects its work with fintech clients in the Middle East, with the executive quoted on the deal serving as Chief Country Officer for the UAE.

Ambar Sur, Founder & Chief Executive Officer of TerraPay, described the agreement as part of a wider trend in the sector.

"The future of cross-border payments will be built through collaboration between global financial institutions and purpose-built fintech infrastructure. Our relationship with Deutsche Bank brings together the strength of one of the world's leading banks with TerraPay's global payment network, creating new opportunities to improve settlement efficiency, expand market reach and deliver superior payment experiences for customers around the world," Sur said.

Bank support

Deutsche Bank said the arrangement supports TerraPay's effort to expand and reinforce its international payments infrastructure. It framed the deal as part of its broader effort to connect businesses and communities through its global network.

"We are pleased to support TerraPay as it continues to enhance its global cross-border payments infrastructure. By combining Deutsche Bank's correspondent banking, payments and foreign exchange capabilities with TerraPay's network, this partnership will help facilitate more efficient and reliable payment flows. It reflects our commitment to supporting fintech clients in the Middle East region across the evolving payments landscape and connecting businesses and communities through our global network," Julfar said.

The agreement points to continued convergence between incumbent banks and payments fintechs, particularly in areas where regulatory oversight, settlement certainty and access to major currencies remain central to scaling international money movement. TerraPay said the collaboration strengthens its ability to facilitate cross-border payments for customers around the world.