TerraPay has partnered with RemitBee to expand cross-border remittance and business payouts from Canada, including payments into digital wallets.
The collaboration covers outbound corridors to the US, Asia, the Middle East, and Africa, and applies to personal remittances and business payments. The two companies say the goal is to give small businesses access to international payout capabilities that have mostly been available to larger enterprises, without requiring high transaction volumes.
Use cases include remittances, supplier payments, freelancer compensation, remote payroll, and business settlements. Furthermore, the arrangement is meant to make these transactions faster, more reliable, and less costly for senders in Canada.
Small businesses as the target segment
The partnership focuses on Canada’s small business economy, which the companies describe as a significant source of outbound cross-border payment demand. More than 90% of employer businesses in the country are classified as small businesses, a segment with limited bargaining power in international payments.
Manos Yoganathan, COO of RemitBee, said Canadian small and medium-sized businesses often lack the transaction volumes needed to negotiate favourable exchange rates and still face delays when paying abroad. The official noted that the TerraPay integration supports RemitBee’s plan to open a broader payment infrastructure to these firms, extending their reach across key corridors and allowing payments directly into digital wallets.
RemitBee has more than a decade of regulated operations and is regulated by FINTRAC as a money services business. It allows businesses and individuals to send money from Canada to over 150 countries. It also offers currency exchange, tax filing, bill payments, eSIMs, and mobile top-ups.
Network reach and wallet interoperability
Through TerraPay, the partnership gives RemitBee access to a network of more than 3.7 billion digital wallets and 7.5 billion bank accounts across over 156 countries. TerraPay is regulated in multiple markets and works in the background for banks, digital wallets, money transfer operators, corporates, and fintech platforms. Its portfolio includes Xend, a wallet interoperability network that supports real-time cross-border payments to and from 3.7 billion wallets through a single connection.
Ralph Koker, Head of Europe and Americas at TerraPay, called Canada a high-potential cross-border payments market, adding that many smaller international transactions there still pass through expensive, fragmented, and slow channels. Koker described the RemitBee collaboration as an example of interoperability linking domestic payment capabilities with international connectivity for both businesses and individuals.
The companies place the partnership within the scale of global remittance flows. According to World Bank data, personal remittances received by low- and middle-income countries reached approximately USD 704 billion in 2025. The figure displays why cross-border payment infrastructure needs to be resilient, inclusive, and digitally connected.
