TerraPay Secures AUSTRAC Registration to Deepen Cross-Border Payment Infrastructure in Australia and the Pacific

TerraPay AUSTRAC registration marks a major step in expanding the global remittance firm’s presence in Australia. TerraPay is now able to directly support the demand for cross-border financial services throughout Oceania, a crucial and rapidly expanding market, through its licenses as an Independent Remittance Provider (IRP) and a Remittance Network Provider (RNP).

This regulatory approval enables TerraPay to operate directly in the Australian market and to support a network of local and international partners. TerraPay is now well-positioned to support the country’s growing demand for efficient and transparent cross-border financial services. It represents a critical milestone in TerraPay’s commitment to deepening its infrastructure and presence in Australia, Oceania and the Pacific Islands – one of the world’s most culturally diverse and strategically important regions for remittance, trade, and financial inclusion. 

Australia is home to over 7.7 million migrants, making it one of the most globally connected nations on the planet. It also serves as the financial and economic anchor for the Pacific, sending remittances annually to island nations like Fiji, Samoa, Tonga, Papua New Guinea, and Vanuatu. In addition, Australia plays a growing role as a receiver of global payments — from international students, seasonal workers, SME trade settlements, and freelancers. 

With TerraPay’s global presence and strong partner network, the approvals in Australia present a strong opportunity for TerraPay to enable two-way cross-border payments between Oceania and the rest of the world. 

This milestone forms a part of TerraPay’s broader strategy to invest in Oceania and the Pacific as high-impact regions, where access to inclusive, compliant, and scalable financial infrastructure is critical. 

With AUSTRAC registration, TerraPay will: