TORONTO, June 24, 2025

TerraPay, a global money movement company, has partnered with Paramount Commerce, Canada’s leading pay by bank provider, to enable real-time payouts to Canadian bank accounts via Interac e-TransferⓇ for Business. 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.

About TerraPay
TerraPay simplifies global money movement, providing a single connection to one of the most expansive cross-border payment networks regulated in over 30 global markets. The platform enables payments to 150+ receiving countries, 210+ sending countries, over 3.7 billion mobile wallets, 7.5 billion bank accounts, and more than 12 billion cards. TerraPay is on a mission to create a borderless financial world, making money transfers instant, reliable, transparent, and fully compliant. 

Founded in 2014, TerraPay has built the global digital wallet interoperable network, driving financial inclusion even in the most remote markets. TerraPay is headquartered in London, with offices in cities like Bangalore, Dubai, Bogota, Dar es Salaam, Kampala, and Singapore. Backed by leading investors including the IFC (World Bank), Prime Ventures, Partech Africa, and Visa, TerraPay continues its rapid global expansion.

For more information, please contact: Juveria Samrin, juveria.n@terrapay.com

About Paramount Commerce
Paramount Commerce is on a mission to simplify payments and is Canada’s leading pay by bank partner. Our solutions are trusted by millions of consumers and have processed over $100 billion in volume. With features like one-click payments, robust risk management, seamless integration, and over 20 years of experience, Paramount Commerce creates exceptional experiences for merchants and consumers alike. To learn more, visit paramountcommerce.com.

Interac e-Transfer is a registered trade-mark of Interac Corp. Used under licence.

For more information: media@paramountcommerce.com