Enhancing Cross-Border Payments for SMEs
Through this collaboration, Whalet’s key customers—particularly cross-border sellers from the Asia-Pacific region—are poised to benefit from improved international financial transactions and enhanced payment efficiency.
Whalet specializes in providing small businesses with comprehensive global payment solutions that include one-click store setup, global accounts, pay-ins, payouts, currency exchange, and card issuance. With payment licenses held in Singapore, the US, and Hong Kong SAR, Whalet ensures compliant operations for enterprises looking to expand internationally.
Supporting SMEs with Secure Financial Corridors
As part of their alliance, Whalet will leverage TerraPay’s technology to augment its payout capabilities. This integration is designed to provide businesses with secure and compliant payment pathways across multiple regions. It aims to simplify transactions, reduce settlement complexities, and boost operational efficiency for small and medium-sized enterprises (SMEs). Both companies are dedicated to creating a personalized global financial ecosystem that facilitates business growth in the international marketplace.
In their joint statement, representatives from Whalet highlighted how partnering with TerraPay strengthens their capability to offer reliable payouts for cross-border trade across various enterprises and e-commerce marketplace sellers. The partnership also aims to enable consumers to handle transactions efficiently while improving global financial processes.
TerraPay’s Recent Expansion
Besides collaborating with Whalet, TerraPay has also started a partnership with PayPal to expand secure cross-border payment access across the Middle East and North Africa (MENA) region. This move is intended to support economic growth by making cross-border transactions more efficient and connecting banks, mobile wallets, and financial institutions. Additionally, it seeks to increase client accessibility through safe account linking and fund transfers from mobile wallets and bank accounts, thereby enhancing financial connectivity and inclusion.
Note: Source of the information can be found at: Link