TPBank taps TerraPay for real-time overseas payments

TPBank has entered a partnership with TerraPay to offer real-time outbound cross-border payments, giving customers access to bank account and wallet payouts across more than 156 countries and territories, the companies said. The agreement comes as Vietnam’s non-cash transaction volumes continue to rise, with 17.7 billion transactions recorded in 2024, up 56% from a year earlier, and nearly 18 billion reached in the first nine months of 2025, according to figures cited by the companies.

The deal is aimed at extending the speed and convenience of domestic digital banking into international payments. TerraPay, a global money movement company, said TPBank will connect to its payment network while continuing to use the bank’s existing Swift connectivity.

That structure allows TPBank to expand its international payout options without setting up multiple direct relationships with counterparties in different markets. In cross-border payments, banks often need bilateral arrangements, local partners or technology integrations to reach overseas accounts and wallets. TerraPay’s network is intended to provide a single access point to multiple destinations, reducing the operational work required to add corridors.

For TPBank customers, the companies said the partnership will support faster international payments and a broader set of payout choices for overseas transfers. The service is positioned for customers and businesses using TPBank’s digital banking channels to make payments outside Vietnam.

Vietnam’s cashless shift

The partnership reflects the growth of Vietnam’s digital payments market. The companies said customer expectations shaped by domestic cashless banking are increasingly being applied to international transfers, where speed, reliability and ease of use have become central service requirements.

TPBank, which the companies described as one of Vietnam’s digitally focused banks, said the agreement supports its effort to broaden international payment services without heavy technology spending or a wider set of bilateral banking relationships.

Nguyen Viet Anh, deputy chief executive in charge of strategy and banking governance at TPBank, said the partnership would allow the bank to expand international payment offerings while supporting its digital-first approach for customers.

Ani Sane, co-founder and chief business officer at TerraPay, said digitally led banks are changing customer expectations for cross-border payments and that the arrangement gives TPBank a single connection to wider international reach.

Regulatory controls

The companies said the collaboration has been notified to the State Bank of Vietnam in line with applicable rules. They also said inbound and outbound remittance transactions under the arrangement will be subject to controls designed to comply with Vietnam’s foreign exchange regulations and anti-money laundering requirements.

No financial terms for the partnership were disclosed. The companies did not provide a launch timetable or specify individual payment corridors beyond the stated access to more than 156 countries and territories through TerraPay’s network.

This story draws on original reporting from Finextra Research.