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[PRNewswire] TerraPay Verify integrates with Kinexys
TerraPay has integrated its TerraPay Verify solution into Kinexys by J.P. Morgan’s Liink Confirm application to enhance cross-border payment accuracy. This collaboration allows financial institutions on the Kinexys Liink blockchain network to validate bank account and digital wallet details before initiating transactions. By addressing the 10-15% failure rate in international payments caused by incorrect beneficiary data, the partnership aims to reduce settlement delays and operational costs. The integration leverages TerraPay’s extensive verification capabilities to provide greater transparency and trust across global payment ecosystems. This move aligns with the G20 roadmap for enhancing cross-border payments by improving infrastructure interoperability and fraud prevention. As payments increasingly shift between traditional bank accounts and digital wallets, such verification tools become essential for maintaining reliable money movement. The partnership underscores a shared commitment between J.P. Morgan’s blockchain unit and TerraPay to modernize the opaque landscape of global financial transfers.
