Fabrick and TerraPay Partner to Innovate Cross-Border Payments in Europe

Fabrick, an Open Finance operating company is expanding its geographical footprint by partnering with TerraPay, a company simplifying global money movement. 

Initially focused on the Italian market, this partnership will enable businesses to access a  unified platform that streamlines payment processes, reduce operational costs, and ensure  compliance with regulatory requirements.  

It represents a significant milestone in Fabrick’s international growth and consolidation  strategy, building on its strong presence in Italy, Spain, and the United Kingdom. Following the  recent acquisition of finAPI, which enabled Fabrick to enter the strategically important DACH  region, Fabrick has continued to solidify its position at the forefront of Europe’s digital  payments landscape.  

With TerraPay’s extensive global network spanning 7.5 billion bank accounts, 12 billion cards  and 2.4 billion digital wallets across 145 countries and by leveraging Fabrick’s Banking-as-a Service platform model, the two are creating a unified platform with tailored offerings that  streamline payment processes, enhance security, and elevate the customer experience for  businesses and financial institutions. Moreover, TerraPay’s global infrastructure aligns with  Fabrick’s mission to support Open Finance across different domains, including cross-border  payments. 

TerraPay, regulated by the FCA, the Bank of Italy, and in 30 other jurisdictions globally, excels  in international anti-money laundering (AML) and fraud prevention regulations, while Fabrick  offers deep knowledge of Italian and EU compliance standards. Hence, both have a shared  expertise in navigating the complexities of their respective regulatory environments.  

Reinforcing their commitment to innovation and collaboration within the fintech sector,  TerraPay will also become a member of Fintech District, Fabrick’s fintech ecosystem  aggregator. This will give TerraPay access to a network of over 300 fintech and techfin  companies, enhancing its ability to deliver cutting-edge payment solutions and stay ahead of  emerging trends in Italy and beyond. 

Paolo Zaccardi, CEO and Co-Founder of Fabrick, stated: “We are delighted to announce  our partnership with TerraPay, providing us with a gateway to the world’s most extensive cross border payments network. By integrating TerraPay’s vast global reach with our innovative  solutions, we not only enhance our service offerings but also reinforce Fabrick’s broader  strategy of global expansion”. 

“This move therefore signifies an important step forward in consolidating our presence in key  international markets, enabling us to deliver a comprehensive suite of payment services  tailored to the rapidly evolving needs of the financial services sector worldwide, enabling  businesses internationally to navigate the complexities of cross-border payments with greater  efficiency and security”. 

Ani Sane, Co-Founder and Chief Business Officer at TerraPay, stated: “Our collaboration  with Fabrick marks a significant milestone in our efforts to expand our footprint in Europe. By  combining our expertise in payment infrastructure with Fabrick’s innovative approach to banking services, we are poised to deliver our value proposition to help Italian and European  enterprises and banks to streamline complexity of cross border payment.”