As a global payments infrastructure company with the mission to simplify and democratise cross-border money movement, TerraPay is focused on building bridges between legacy banking infrastructure and emerging digital ecosystems to enable low-cost transfers, interoperability, compliance, and financial inclusion.
European Payments Council spoke with Marco Boldini, Board member of TerraPay Italy, about the challenges in cross-border transactions and account-to-account (A2A) payments, and key developments that will shape the European payments landscape.
What are the main strategic challenges TerraPay faces in the payments landscape, particularly regarding cross-border transactions and A2A payments?
„One of the key challenges is navigating the complexity of regulatory frameworks across jurisdictions. Cross-border transactions and A2A payments require not only technological interoperability but also deep compliance alignment with local and international standards. Ensuring real-time settlement while maintaining robust anti-money laundering (AML) and know-your-customer (KYC) protocols is a delicate balance.
Another challenge is the fragmentation of payment systems: while A2A payments are gaining traction in Europe through initiatives like SEPA Instant Credit Transfer (SCT Inst), global adoption remains uneven.”
What future developments and challenges do you anticipate in the near term?
„Looking ahead, we anticipate several key developments and challenges that will shape the European payments landscape. First and foremost, the acceleration of instant payments and the broader adoption of SCT Inst will continue to redefine consumer expectations around speed, transparency, and interoperability.
Another major development is the increasing regulatory focus on digital resilience, cybersecurity, and financial crime prevention. As compliance frameworks grow more complex, the challenge will be to maintain agility while ensuring robust risk management.
Finally, the convergence of payments with digital identity, open banking, and tokenisation presents both opportunities and challenges. Navigating this convergence will require close collaboration across the ecosystem, and we see the EPC playing a vital role in fostering that dialogue.”
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