TerraPay, a London-based money movement company, has announced its registration 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 allows TerraPay to operate directly within the Australian market and support a network of both local and international partners.
The development marks a significant step in TerraPay’s efforts to expand its infrastructure and presence across Australia, Oceania and the Pacific Islands, regions that are strategically important for remittance, trade and financial inclusion.
Australia is home to more than 7.7 million migrants and serves as an economic and financial hub for the Pacific.
It plays a key role in sending remittances to countries such as Fiji, Samoa, Tonga, Papua New Guinea and Vanuatu.
In parallel, Australia has become an important destination for incoming global payments from international students, seasonal workers, small and medium-sized enterprises, and freelancers.
With a global presence and established partner network, TerraPay views the AUSTRAC registration as an opportunity to enable two-way cross-border payments between Oceania and the rest of the world.
This move is part of the company’s broader strategy to invest in regions where scalable, compliant and inclusive financial infrastructure is essential.
TerraPay aims to support smaller financial technology companies, payment service providers and money service businesses by offering access to international payout networks and local collections.
The company also seeks to enhance wallet interoperability across the Pacific through partnerships with mobile money providers and to strengthen infrastructure for education payments, foreign exchange services, gig economy payouts and aid distribution.
Sukesh Malliah, Vice President for 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.”
Featured image credit: Edited by Fintech News Singapore, based on image by f11photo via Freepik
