UK fintech TerraPay secures AUSTRAC approval for cross-border payment infrastructure in Australia and the Pacific

London-headquartered TerraPay have announced its registration approval with the Australian Transaction Reports and Analysis Centre (AUSTRAC) as both 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 presents 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:

• Enable smaller fintechs, PSPs, and MSBs by providing access to global payout networks and local collections.
• Power wallet interoperability across the Pacific through direct partnerships with mobile money providers.
• Build infrastructure for education, cross-border payments, B2B FX, gig economy payouts, and aid disbursements.

With this regulatory approval secured, TerraPay continues to expand its global footprint, bringing secure, scalable, and inclusive payment capabilities to markets that need them most — and ensuring its partners can confidently enter, operate, and scale across Australia and beyond.

Sukesh Malliah, Vice President – Asia Pacific at TerraPay, said, “Oceania and the Pacific are often overlooked, yet they’re home to some of the most remittance-reliant economies globally. Our investment in Australia is not just about market entry – it’s about building capabilities that enable sustainable access, faster transactions, and more affordable financial services across the region.”

Ritesh Singh, Senior Director – Australia & Pacific at TerraPay, added, “This license sets the foundation for our long-term commitment to Australia and its Pacific neighbours. We’re here to collaborate — with fintechs, banks, platforms, and communities — to co-create solutions that simplify money movement and enable growth. This is just the beginning.”