TerraPay appoints network head amid new partnership with MultiPass
TerraPay in the UK has hired former Western Union lead Hassan Chatila as VP and global head of its cross-border payments network, which continues to attract new industry takers.
TerraPay hires network head and signs MultiPass
The new global head of network has been tasked with actioning “the expansion and optimisation of TerraPay’s global payout network”, which the paytech uses to facilitate international remittances and other payment services between differing currencies and regions.
Chatila is expected to leverage his over two decades of experience in cross-border payments to satisfy this remit. During his nine-year tenure at Western Union, Chatila is cited as leading the growth of the money transfer service’s account payout network and has previously served leadership roles at Visa’s cross-border payments firm Earthport and Temenos.
TerraPay says its latest appointment will “work closely with internal and external stakeholders to enhance the network’s capabilities”, in a bid to maintain “transparent and efficient payment solutions” for its partner network.
MultiPass taps TerraPay’s network
One of the latest partners to join its network is bank challenger MultiPass, which announced its partnership with TerraPay this week.
The partnership will afford the UK-based firm access to TerraPay’s payments network, which it says it plans to utilise in “expanding its reach to new jurisdictions and local payouts in multiple currencies”.
Operating under Dyninno Group, MultiPass currently supports multi-currency accounts, a corporate card programme, and foreign exchange services for its business clients. Additionally, it offers local UK, US, and EU accounts, along with a multi-currency IBAN for its consumer offerings.
While its reach extends to over 70 currencies and 200 global payment destinations, the challenger’s partnership with TerraPay will further its services to 144 receive countries, over 210 send countries, 7.5 billion bank accounts and 2.1 billion mobile wallets.
Additionally, MultiPass says it has also recently filed an application for a financial services licence with the Dubai Financial Services Authority (DFSA) in the UAE. It claims to have received “the in-principal approval” and intends to “launch operations very soon”.
TerraPay is also celebrating its own regulatory approval, having been authorised as a Major Payment Institution (MPI) by the Monetary Authority of Singapore (MAS) last month.
