- Declared as a winner in the category “Best Payments Innovation of the Year”.
- Innovative solution built on an idea of Interoperability of diverse financial instruments across geographies, all premised on an individual’s mobile number.
New Delhi, India – 8th June 2017: TerraPay, the world’s first mobile payments switchhas received an award for the “Best Payments Innovation of the Year” at the Payments and Cards Awards held on 7th June during Payments & Cards Summit, 2017 Mumbai. TerraPay has been recognized as the best payments innovation for its revolutionary interoperability as a service solution which has been successfully implemented across the globe in a short span of two years.
TerraPay’s innovative solution has been built on an idea of Interoperability of diverse financial instruments across geographies, all premised on an individual’s mobile number. The company is building global payment infrastructure to fulfil its vision to enable customers to Send Money to Any Mobile. TerraPay’s interoperability engine is designed to deliver a simple, fast and secure service experience.
Speaking on the occasion, Ambar Sur, Founder & CEO, TerraPay said, “We feel honoured to receive this prestigious award and be recognized at the Payments and Cards Summit 2017. TerraPay’s interoperability engine has received acceptance from Industry partners which can be substantiated by the varied partnerships that the company has built. The company takes pride in the fact that it has enabled its partners including Money Transfer operators, Mobile money operators and banks in developed economies and emerging economies alike to join forces. This award further strengthens our belief to provide millions of people across the globe with an alternative to a cash-based economy by sending money to any mobile”
TerraPay brings mobile wallet systems mainstream, by interconnecting them to existing financial institutions, payment systems, and networks such as banks, switches, and card networks to create a payments switch for instant, global money transfers.
TerraPay, the world’s first mobile payments switch, is a global transaction processing, clearing, and settlement service for mobile wallets. It provides the interoperability engine that enables customers to send and receive real-time transactions across diverse payment instruments, platforms, and regions. The company believes in the power of mobile devices and is building the digital payment rails to fulfil its vision of enabling users to send money to any mobile.
TerraPay is a B2B company incubated by Mahindra Comviva, a global leader in delivering mobile financial solutions, and is part of the USD 17.8 billion Mahindra Group. It is registered and regulated in several jurisdictions. In the UK, it is regulated by the Financial Conduct Authority (FCA).
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