By: Nana
Appiah Acquaye
TerraPay has integrated its
payee verification solution, TerraPay Verify, into Kinexys by J.P. Morgan’s
Liink Confirm application to help financial institutions validate bank account
and digital wallet details across global markets before initiating payments.
The integration, announced
in London on October 22, 2026, will enable financial institutions and non-bank
financial institutions connected to the Kinexys Liink network, as well as
TerraPay Verify clients, to access verification capabilities designed to
improve payment accuracy and strengthen trust in cross-border transactions.
As cross-border payments
continue to grow, beneficiary accuracy has become a critical concern for
financial institutions. A 2026 study by LexisNexis Risk Solutions estimates
that 10 to 15 per cent of international payments fail because of incorrect
beneficiary details, resulting in settlement delays, increased operational
costs and greater exposure to fraud.
The challenge is amplified
as payments increasingly move across bank accounts and digital wallets, making
recipient verification an important factor in enabling faster and more reliable
money movement.
Paul Atkinson, Head of
Kinexys Liink Product at Kinexys by J.P. Morgan, said the integration would
help financial institutions improve control and reduce payment fraud throughout
the cross-border payment lifecycle.
“By integrating Kinexys
Liink’s Confirm application with TerraPay Verify, we’re making it easier for
financial institutions and non-bank financial institutions to improve control
and help reduce payment fraud throughout the cross-border payment lifecycle,”
Atkinson said.
“Together, we’re supporting
institutions as they adapt to a rapidly changing landscape and build greater
trust with every transaction.”
David Backshall, Vice
President of Payment Partnerships at TerraPay, said financial institutions
needed a reliable way to verify recipients across bank accounts and digital
wallets as payment ecosystems continued to evolve.
“Trust is fundamental to
every successful payment,” Backshall said.
“Our collaboration with
Kinexys by J.P. Morgan extends the reach of TerraPay Verify to more
institutions globally, helping improve payment certainty, reduce avoidable
exceptions and support a better customer experience,” he added.
The collaboration also
expands the reach of TerraPay Verify through the Kinexys Liink network and
reflects both companies’ commitment to improving transparency, trust and
efficiency in cross-border payments.
TerraPay said the
partnership forms part of its continued focus on embedding trust into global
money movement through compliance, verification and interoperable
infrastructure, while creating opportunities to expand verification coverage
through strategic ecosystem partnerships.
The initiative also aligns
with broader efforts under the G20 roadmap to improve cross-border payments by
supporting greater transparency, accessibility and reach.
