RemitBee & TerraPay expand wallet payouts from Canada

RemitBee has partnered with TerraPay to expand cross-border payouts into digital wallets, targeting outbound payment corridors from Canada.

The arrangement will support remittances and business payments across the United States, Asia, the Middle East and Africa. It is aimed at Canadian businesses and individuals sending money abroad, including for supplier payments, freelancer fees, remote payroll and settlements.

Canada-based RemitBee said the partnership would give its customers access to TerraPay's broader international payment network. According to TerraPay, that network reaches more than 3.7 billion digital wallets and 7.5 billion bank accounts in more than 156 countries.

The move comes as payment groups compete for a larger share of cross-border flows from small and medium-sized businesses, a segment that often faces higher costs and less direct access to international payment infrastructure than larger companies.

In Canada, that market is sizeable. The release cited government data showing that more than 90% of employer businesses in the country are classified as small businesses, creating a large base of firms that may need to pay overseas suppliers, workers and partners.

RemitBee said it has operated for more than a decade and processed millions of transactions worth billions of dollars. Founded in 2015 and headquartered in Mississauga, it serves consumers and businesses sending money from Canada to more than 150 countries. It also offers foreign exchange, tax filing, bill payments, eSIMs and mobile top-ups.

London-headquartered TerraPay provides cross-border payment connections for banks, digital wallets, money transfer operators, corporates and fintech platforms. Its infrastructure is regulated across multiple markets and supports payments to bank accounts, cards and mobile wallets.

Small business focus

The partnership is aimed at smaller firms that may not have the payment volumes needed to negotiate favourable foreign exchange rates or secure dedicated banking arrangements. In practice, that can leave businesses relying on slower or more expensive routes for routine international transactions.

Manos Yoganathan, Chief Operating Officer of RemitBee, set out the company's focus on that market.

"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," said Manos Yoganathan, Chief Operating Officer, RemitBee.

For TerraPay, the deal adds another route into Canada's outbound payments market, where providers are seeking to offer more direct delivery into wallets as digital payment adoption rises in many receiving countries.

Ralph Koker, Head of Europe and the Americas at TerraPay, said the partnership responds to continued friction in smaller-value international payments.

"Canada is a high-potential cross-border payments market, but many smaller-value international transactions still move through expensive, fragmented and slower channels. That is what makes this partnership with RemitBee so relevant. By combining RemitBee's strong local reach with TerraPay's global payment network and digital wallet infrastructure, we are bridging the gap between domestic payment capabilities and international connectivity. This is interoperability solving a real market need, enabling businesses and individuals to access a more connected, transparent and reliable global payments ecosystem," said Ralph Koker, Head of Europe and the Americas, TerraPay.

Remittance backdrop

The agreement also sits within a large global remittance market. The companies cited World Bank data showing that personal remittances received by low- and middle-income countries reached about USD $704 billion in 2025, underlining the scale of money moving across borders to households and communities.

Digital wallet payouts have become an increasingly important part of that landscape, especially in markets where recipients use mobile-based financial services more often than traditional bank accounts. For payment providers, broader wallet connectivity can help reduce reliance on cash collection and other older disbursement methods.

By linking RemitBee's customer base in Canada with TerraPay's distribution network abroad, the partnership broadens the range of endpoints available for cross-border transfers, including wallet-based delivery in key receiving markets.