TerraPay partners with Paramount Commerce for real-time payouts in canada
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This partnership marks a significant milestone in enhancing international remittance capabilities, providing faster, more cost-effective, and transparent transactions for TerraPay's customers.
Through this collaboration, TerraPay's global network of money transfer operators can now facilitate seamless, real-time payments to recipients in Canada.
The Canadian payments landscape is evolving rapidly, driven by API-powered innovation that enhances interoperability and integrates cross-border payments into financial services. Paramount's payout solution leverages a 24/7 real-time payment infrastructure, enabling individuals to receive funds within seconds—eliminating the delays and inefficiencies of traditional batch payouts.
'Canada's growing fintech sector and digital banking adoption create opportunities for new payment solutions and partnerships. Our partnership with Paramount Commerce allows us to offer a best-in-class solution for money transfer operators and their customers,' said Hassan Chatila, Vice President - Global Head of Network, at TerraPay. 'By utilizing Paramount Commerce's real-time payout capabilities, we are setting a new standard for cost efficiency, speed, and transparency in international money transfers to Canada.'
'Our collaboration with TerraPay underscores our commitment to driving innovation in international remittance payments,' said Sereena Boparai, Chief Revenue Officer at Paramount Commerce. 'With our robust payment infrastructure and real-time payments, we are enabling a more seamless and transparent payment experience for customers sending and receiving money in Canada.'
This partnership is expected to expand beyond remittances, with future phases targeting payments in sectors such as payroll, travel, and digital content.
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