RemitBee and TerraPay Partner to Scale Global Cross-Border Payouts for Canadian SMEs

TerraPay and RemitBee have partnered to expand international payment infrastructure for Canadian small businesses and individuals. By integrating TerraPay’s global network, the collaboration aims to streamline outbound remittances and business payouts to the United States, Asia, the Middle East, and Africa, addressing a critical gap in the Canadian cross-border market.

What was announced

The partnership between TerraPay and RemitBee focuses on providing enterprise-grade cross-border payment capabilities to Canadian entities that typically lack the transaction volume to secure competitive rates. The collaboration targets key outbound corridors including the United States, Asia, the Middle East, and Africa. By leveraging TerraPay’s global infrastructure, RemitBee users can now execute faster and more cost-efficient international transactions, ranging from individual remittances to complex business payouts such as supplier settlements, freelancer compensation, and remote payroll.

The move specifically addresses the Canadian market, where small businesses account for more than 90% of employer businesses. These organizations often struggle with fragmented and expensive payment channels when moving money internationally. Through this integration, RemitBee gains access to TerraPay’s extensive network, which spans over 156 countries and provides connectivity to 3.7 billion digital wallets and 7.5 billion bank accounts. RemitBee brings over a decade of experience as a regulated entity in Canada, having processed millions of transactions worth billions of dollars. The partnership aims to bridge the gap between domestic payment capabilities and international connectivity, ensuring that smaller-value transactions benefit from the same speed and transparency usually reserved for large-scale enterprise operations.

"Canadian small and medium-sized businesses often lack the transaction volumes to negotiate favorable exchange rates and face delays in cross-border payments. By partnering with TerraPay, we’re advancing our vision of making enterprise-grade payment infrastructure accessible to these businesses, expanding their reach across key global corridors and enabling seamless payments into digital wallets."

Manos Yoganathan

The companies involved

TerraPay is a global money movement company that specializes in building international payment infrastructure. The firm focuses on connecting diverse payment types—including bank accounts and digital wallets—across a vast geographic footprint. With a network reaching billions of endpoints in over 150 countries, TerraPay positions itself as a critical layer for interoperability in the global financial ecosystem. The company has established itself as a frequent collaborator with both traditional banks and digital-first fintechs to solve the complexities of last-mile delivery in cross-border transactions.

RemitBee is a Canadian cross-border payments platform that has operated as a regulated entity for more than a decade. Based in Canada, the company serves a diverse client base of individuals and small-to-medium enterprises (SMEs) looking to move funds out of the country. RemitBee has processed billions of dollars in transaction volume, focusing on providing a user-friendly digital experience for international transfers. While it maintains a strong local presence within Canada’s small business communities, this partnership allows it to scale its outbound capabilities significantly by tapping into external global infrastructure.

What FF News has reported before

FF News has followed TerraPay’s expansion into various global markets and payment niches. Recently, the publication covered how NBB and TerraPay Partner to Bridge Traditional Banking with Global Digital Wallets, highlighting the company's role in connecting legacy systems with modern digital endpoints. The firm’s focus on wallet interoperability was also evident in the report on how TerraPay and Alipay+ Launch Cross-Border QR Payments for 3.7 Billion Wallets. Additionally, TerraPay’s work with regional financial institutions was noted when Terrabank Partners with TerraPay and Mozrt to Revolutionize Cross-Border Payments. These stories underscore a consistent strategy of building a unified network that bridges the gap between different financial jurisdictions and payment technologies.

What this means

This partnership signals a growing trend where the democratization of enterprise-grade infrastructure is becoming a competitive necessity in the SME space. For too long, small businesses in Canada have been sidelined by high fees and slow settlement times due to their lack of scale. By enabling RemitBee to offer TerraPay’s massive wallet-to-wallet and bank-to-bank network, the deal puts traditional Canadian banks under pressure to modernize their own outbound remittance offerings. It also highlights that the future of cross-border payments lies in interoperability; the ability to land funds directly into digital wallets in emerging markets is no longer a niche feature but a core requirement for global trade.