RemitBee Partners With TerraPay on Payouts
The Mississauga payments platform adds TerraPay's global bank and wallet network to its cross-border offering for Canadian businesses.
Updated on Nov. 5, 2026 in Financial Services
Live Poll
Do you expect sending money abroad to get cheaper for you in the next few years?
RemitBee, a Mississauga-based cross-border payments platform, has partnered with London-headquartered TerraPay to extend international payout capabilities for Canadian businesses. The partnership does not include disclosed commercial terms.
Why it matters
Small businesses have historically lacked the transaction volumes needed to negotiate competitive exchange rates, and Canadian small and medium-sized businesses often face delays in cross-border payments. More than 90 per cent of employer businesses in Canada are classified as small, making this access relevant across the country.
TerraPay's network covers 7.5 billion bank accounts, 3.7 billion digital wallets and more than 156 countries, according to the partnership announcement. The announcement did not disclose a go-live transaction volume target or the commercial terms of the deal.
The players
RemitBee
A Mississauga-based cross-border payments platform regulated by FINTRAC as a money services business since 2015, serving Canadian businesses sending funds abroad.
TerraPay
A London-headquartered global payments company whose network spans billions of bank accounts and digital wallets across more than 156 countries, and that competes with firms such as Thunes and Nium.
The details
Through the integration, RemitBee customers gain access to TerraPay's network, which supplies last-mile connectivity into digital wallets via its Xend wallet interoperability platform. The companies have not specified which wallet networks will be activated first.
Timeline
2015: RemitBee began regulation as a money services business by FINTRAC.
November 5, 2026: RemitBee and TerraPay announced the partnership.
Market Landscape
The partnership extends TerraPay's Xend wallet interoperability network into Canada, where it competes with providers such as Thunes and Nium for cross-border payout volume. It positions RemitBee to offer broader international payout reach against larger payments rivals.
Canadian small businesses paying suppliers abroad may gain access to more international payout options through providers using this network. The partnership has not yet announced when those options will be available to customers.
The takeaway
Small businesses paying overseas should compare exchange rates and payout options across providers, since access to competitive rates has historically depended on transaction volume. Watch for announced wallet networks and pricing before switching services.
Further reading
Explore more on Financial Services for context on how cross-border payment providers are evolving in Canada.
Source note: This article includes information reported by The Fintech Times.
Live Poll
Do you expect sending money abroad to get cheaper for you in the next few years?
