TerraPay has integrated its payee verification service with JPMorgan’s Kinexys Liink network, allowing financial institutions to check bank account and digital wallet details before sending cross-border payments.
The integration connects TerraPay Verify with the Confirm application on Kinexys Liink, a network used by banks and non-bank financial institutions to exchange information.
The companies said the arrangement would extend access to recipient verification across global markets.
Incorrect beneficiary details remain a source of failed international payments.
A 2026 study by LexisNexis Risk Solutions estimated that 10% to 15% of international payments fail because of inaccurate recipient information, resulting in settlement delays, higher operating costs, and potential fraud exposure.
The problem has become more complex as payments move between traditional bank accounts and digital wallets, requiring financial institutions to verify recipients across different payment systems.
Paul Atkinson, head of Kinexys Liink product at JPMorgan, said the integration would help financial institutions improve controls and reduce payment fraud across the cross-border transaction process.
For TerraPay, the partnership provides another channel to distribute its verification service to institutions connected to the Kinexys Liink network.
David Backshall, TerraPay’s vice president of payment partnerships, said financial institutions needed reliable ways to check recipients across bank accounts and digital wallets as payment systems evolve.
The companies said the collaboration was intended to reduce avoidable payment errors and improve the customer experience by allowing recipient details to be checked before funds are transferred.
TerraPay operates a cross-border payments network connecting financial institutions, money transfer operators, fintech companies, and digital wallet providers.
The company says its infrastructure reaches more than 7.5 billion bank accounts across 156 countries.
Kinexys is JPMorgan’s blockchain business unit, which develops technology for financial transactions and information exchange. Its Liink network enables participating institutions to share payment-related information.
The integration comes as financial institutions and payment providers seek to improve the reliability of international transfers, where differences in payment infrastructure and recipient information can complicate transactions.
By combining TerraPay’s account and wallet verification capabilities with access to the Liink network, the companies aim to help institutions identify incorrect recipient details before payments are initiated, rather than address errors after transfers have been sent.
