- Speed and reliability: Whalet will integrate TerraPay’s global payout network to deliver faster, compliant payouts to SMEs expanding internationally.
- E-commerce boost: By combining payment licences held in key financial markets with TerraPay’s multi-rail technology, the partnership seeks to unlock growth for marketplace sellers.
Whalet partnered with TerraPay to transform SME Cross-Border payments
Whalet, a Singapore-based digital payment provider, has teamed up with TerraPay, a global money movement company, to enhance cross-border payout solutions for small and medium-sized enterprises (SMEs). Announced on 11 June 2025, this collaboration leverages TerraPay’s extensive network, which connects over 7.5 billion bank accounts, 3.7 billion digital wallets, and 12 billion cards across 150+ receiving countries. The partnership focuses on simplifying international transactions for Whalet’s core customers—cross-border sellers in the Asia-Pacific region. By integrating TerraPay’s technology, Whalet aims to streamline payment processes, offering one-click store setups, global accounts, pay-ins, payouts, currency exchange, and card issuance. This move builds on Whalet’s existing licences in Singapore, the U.S., and Hong Kong SAR, ensuring compliance and cost-effectiveness.
Whalet, which holds payment licences in Singapore, the US and Hong Kong SAR, will embed TerraPay’s technology to scale its operations, targeting the Asia-Pacific expansion of its merchant base. TerraPay’s vice-president for APAC, Sukesh Malliah, emphasised that the union would allow SMEs and e-commerce vendors to “move funds effortlessly” across multiple regions.
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Why it’s important
The alliance addresses a growing demand among SMEs for reliable, compliant, multirail payout solutions. As remote and crossborder commerce proliferates, businesses seek to bypass delays, control currency risk and reduce settlement costs. This partnership offers an endtoend payout facility without the complexity of managing multiple providers.
Moreover, Whalet and TerraPay operate in underserved corridors where digital wallets and emerging rails can significantly reduce timetopay. By utilising TerraPay’s broad global footprint and Whalet’s licence holdings, the duo is wellpositioned to enable rapid, secure transactions for customers in AsiaPacific and beyond.
TerraPay’s recent collaboration with PayPal to enhance crossborder payments in MENA shows the company’s ambition to emerge as a universal payout layer. The partnership with Whalet signals a broader industry trend: integration of fintech platforms and payout infrastructures to support SMEs at scale.
