Cobre, a B2B payments platform operating in LATAM, has joined forces with TerraPay to streamline international transactions. This partnership is anticipated to drive rapid growth in transaction volumes.
The collaboration will allow businesses to efficiently handle cross-border payments with reduced operational complexity, accelerated settlement times, and adherence to regulatory standards. By integrating Cobre’s enterprise payment platform with TerraPay’s global network, companies can achieve seamless real-time fund transfers and access new markets more quickly.
Enhancing Cross-Border Payments
Cobre has developed technology for corporate payments in the LATAM region, offering solutions like Cobre Connect, Local Payments, and Cross Border Payments. These tools are designed to complement existing systems, fostering interconnected financial ecosystems.
TerraPay simplifies global money transfers by providing a unified connection to an expansive international network that complies with various jurisdictional regulations. The partnership highlights both companies’ dedication to helping enterprises manage their finances more effectively in Latin America, addressing common challenges such as cross-border payments, regulatory compliance, treasury management, technology integration, and settlement processes.
The partnership with TerraPay underscores Cobre’s commitment to leveraging local expertise alongside global networks for faster and more efficient payment processing. Similarly, TerraPay aims to support businesses in unlocking more reliable, transparent, and swift cross-border payments across Latin America while expanding their reach and focusing on growth.
Beyond this collaboration, Cobre has recently enabled real-time interbank B2B payments for Colombian companies through a new service that allows instant transfers using payment aliases. This feature minimizes operational complexities by maintaining existing accounting flows and enabling round-the-clock receipt of corporate client payments, thereby enhancing cash flow management and supporting accounting cycles.
