TORONTO and HAGUE, Netherlands, Oct. 26, 2020 /PRNewswire/ — Canada’s growth lends itself to an increasing population of immigrants boosting the economy. Fuelling its aim to attract migrants to the nation in the next few years calls for a seamless and secure framework to facilitate the money transfer requirements of all participants in the payments ecosystem.
As per the World Bank data estimated in 2018*, the outward remittance value of US$ 27B from Canada, with a growing share of digital remittances, reflect a global move towards cashless economies.
With an aim to further strengthen this drive to cater efficiently to the dynamic money transfer needs of the industry, TerraPay, a leading global payments infrastructure company, has recently announced its MSB registration with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC).
This license will facilitate the Company’s unparalleled and robust cross-border payments infrastructure to mobilize