TerraPay integrates verification solution with J.P. Morgan’s Kinexys

TerraPay has integrated its payee verification solution, TerraPay Verify, into the Liink Confirm application within Kinexys by J.P. Morgan’s Liink network. This collaboration allows financial institutions and non-bank financial institutions on the Kinexys Liink network to validate bank account and digital wallet details across various global markets.

The integration aims to improve the accuracy of cross-border transactions and reduce the frequency of failed payments. According to a LexisNexis Risk Solutions study, an estimated 10-15% of international payments fail due to incorrect beneficiary details, which can lead to settlement delays, increased operational costs, and higher fraud exposure.