Fabrick, an Italian Open Finance operating company, has announced a strategic partnership with TerraPay, a global payments infrastructure firm, to enhance its geographical footprint and payment solutions.
Initially focusing on the Italian market, the collaboration aims to offer businesses a unified platform that streamlines payment processes, reduces operational costs, and ensures compliance with regulatory requirements.
This partnership marks a significant milestone in Fabrick’s international growth strategy, building upon its presence in Italy, Spain, and the United Kingdom, according to the announcement.
Following its recent acquisition of finAPI, which facilitated entry into the DACH region—comprising Germany, Austria, and Switzerland—Fabrick continues to solidify its position in Europe’s digital payments landscape.
Leveraging TerraPay’s extensive global network—which spans 7.5 billion bank accounts, 12 billion cards, and 2.4 billion digital wallets across 145 countries—and Fabrick’s Banking-as-a-Service platform, the two companies aim to create tailored offerings.
These solutions are designed to streamline payment processes, enhance security measures, and improve customer experiences for businesses and financial institutions.
TerraPay’s global infrastructure aligns with Fabrick’s mission to support Open Finance across various domains, including cross-border payments.
Regulated by the Financial Conduct Authority (FCA), the Bank of Italy, and authorities in 30 other jurisdictions, TerraPay excels in international anti-money laundering (AML) and fraud prevention regulations.
Fabrick contributes deep knowledge of Italian and European Union compliance standards, enabling both companies to navigate complex regulatory environments effectively.
Reinforcing their commitment to innovation in the fintech sector, TerraPay will join the Fintech District, Fabrick’s fintech ecosystem aggregator.
This membership grants TerraPay access to a network of over 300 fintech and techfin companies, enhancing its ability to deliver advanced payment solutions and stay ahead of emerging trends in Italy and beyond.
The partnership is expected to enable businesses internationally to handle cross-border payments with greater efficiency and security.
By combining their expertise and resources, Fabrick and TerraPay aim to deliver a comprehensive suite of payment services tailored to the rapidly evolving needs of the global financial services sector.
