United Kingdom · Payments & e-money
Terra Payment Services (UK) Limited
Terra Payment Services (UK) Limited is a private limited company in London. The FCA authorises it as an authorised payment institution (firm reference number 542256). It is a subsidiary of Terra Payment Services (Netherlands) B.V., and its ultimate controlling party is TerraPay Holdings Limited. Trading as TerraPay, it provides cross-border money transfer and payment services to banks, mobile wallets, money transfer operators, merchants and financial institutions.
Licences and registrations
Held by Terra Payment Services (UK) Limited (LEI 254900LPWD3PXUGB1W18). 1 entry on 1 of the 22 tracked registers, retrieved 25 September 2026.
| Register | Licence | Number | Jurisdiction | Status | Registered | Ends | Activities | Register entry |
|---|---|---|---|---|---|---|---|---|
| FCA Financial Services Register - Payment Institutions & RAISPsFCALinked by LEI. Matched by Elucidate on the UK company number the register gives. | Authorised Payment InstitutionPayment Institution | 542256 | United Kingdom | Active | 2018-05-01 | — |
|
Search the register ↗ |
Trading names on the register: TerraPay (FCA-PSD)
- Licences belong to the legal entity, not to a BIC.
- Each licence applies in the country of the regulator that granted it.
- Registers are tracked in 37 countries. Licences granted elsewhere are not recorded here.
- The register entries and their trading names were not matched against sanctions lists. The sanctions facts on this page cover the BIC and its LEI only.
Other register entries with this LEI
Shown for reference: they share the LEI but are not merged into this page
Swift network
Swift’s ISO 9362 BIC directory
- BIC
- TPSVGB22XXX head office
- Connection to Swift
- Reverse billingThe institution is connected to Swift. Messages sent to it are billed to the institution, not to the sender. The “2” in the eighth character of TPSVGB22 marks reverse billing.
- Swift GPI
- Member, not yet live
- Payment schemes and systems
- No entry in the EPC registers, the ECB T2 and TIPS lists or the SIX Bank Master cites this BIC
- Branch codes
- None: head-office BIC only
- BIC first registered
- 2021-12-25
- Last updated
- 2026-06-11
Overview
Researched 29 Sep 2026 · Sources
Customers
Not published
Ownership
Group subsidiary
Terra Payment Services (Netherlands) B.V.
Firm type
Payment infrastructure
Trades as TerraPay
- Standing
- The firm was incorporated as Pay2Global Limited on 16 July 2008 and took its current name on 9 August 2016. Its audited accounts for 2024 disclose a material uncertainty about its ability to continue as a going concern.
- Ownership
- Terra Payment Services (Netherlands) B.V. is the firm's immediate parent, and TerraPay Holdings Limited (Companies House 13784842) is its ultimate controlling party, according to the 2024 annual report.
- Direct parent
- Terra Payment Services (Netherlands) B.V., Netherlands
- Ultimate owner
- TerraPay Holdings Limited, United Kingdom
- Major shareholder
- TerraPay Holdings Limited (registered as person with significant control, 75% or more)
- Head office
- 2nd Floor, 107 Cheapside, EC2V 6DN London, United Kingdom
- Company register
- Companies House 06648470
- Incorporated
- 16 Jul 2008
- Founders
- Ambar Sur · Ani Sane · Ram Sundaram · Akbar Hussain
- Former name
- PAY2GLOBAL LIMITED
Online
- Websites & references
- terrapay.com ↗
developers.terrapay.com ↗ developer documentation (TerraPay group) - Official social accounts
- LinkedIn ↗ · YouTube ↗
Sources · 12 pages consulted
- find-and-update.company-information.service.gov.uk/company/06648470
- find-and-update.company-information.service.gov.uk/company/06648470/officers
- find-and-update.company-information.service.gov.uk/company/06648470/persons-with-significant-control
- find-and-update.company-information.service.gov.uk/company/06648470/filing-history
- find-and-update.company-information.service.gov.uk/company/06648470/filing-history/MzUwODQ0NTQxOWFkaXF6a2N4/document?format=pdf&download=0
- fsc.gi/regulated-entity/terra-payment-services-uk-limited-17174
- fca.org.uk/publication/foi/foi5424-information-provided.pdf
- terrapay.com/
- terrapay.com/about-us/
- terrapay.com/media/terrapay-a-leading-global-payments-infrastructure-company-has-successfully-closed-i
- ifc.org/en/pressroom/2024/ifc-deepens-partnership-with-terrapay-to-boost-access-to-international-
- terrapay.com/media/errapay-deutsche-bank-global-payments/
Authorisation
Researched 29 Sep 2026 · Sources
- Operates under
- Its own licences
The FCA authorises the firm as an authorised payment institution (firm reference number 542256). The Gibraltar Financial Services Commission register lists it with incoming permissions from the UK for money remittance and the execution of payment transactions.
| Authority | Licence or registration | Number | Held | Status | Source |
|---|---|---|---|---|---|
| Financial Conduct Authority United Kingdom | Authorised Payment Institution | 542256 | In its own name | Active | — |
| Gibraltar Financial Services Commission Gibraltar | Payment Services Directive – incoming services from the United Kingdom (activities 3 and 6: execution of payment transactions, money remittance) | — | In its own name | Active | fsc.gi ↗ |
Licences and registrations the research found, at home and abroad, as the firm and its regulators publish them. The Licences and registrations card shows the entries on the registers the directory tracks.
Partners and safeguarding
Researched 29 Sep 2026 · Sources
- Safeguarding
- Segregated safeguarding accountsAccording to its 2024 annual report, the firm must safeguard customers' funds and keep them segregated from its own.
- Payment schemes and card networks
- Swift Access not stated terrapay.com ↗
Banks and regulated firms the firm says hold its customers’ money, issue its cards, sponsor its accounts or settle its payments, as it discloses them in its terms and notices.
Products and markets
Researched 29 Sep 2026 · Sources
According to its 2024 annual report, it provides money transfer and payment services to banks, mobile wallets, money transfer operators, merchants and financial institutions. It earns fees and FX spread from sending partners and settles funds to beneficiaries' bank accounts and wallets through receiving partners.
It operates under its UK authorisation and holds incoming permissions for Gibraltar. Its 2024 annual report says the group's network reaches more than 120 receive countries and 200 send countries.
- Revenue
- GBP 22.5m
- Sells to
- Financial institutions · Enterprises · Platforms and marketplaces
- Serves customers in 2 countries
- United Kingdom · Gibraltar
- Latest funding round
- Series B · USD 100m Apr 2023
Leadership
Researched 29 Sep 2026 · Sources
- Founder
- Ramakrishnan Sundaram Director; Co-Founder and Chief Operating Officer (TerraPay group)
- Executive
- Santosh Rajanna Bellary Director
- Executive
- Louise Clare Brett Director
- Executive
- Mohd Saif Abbasi Director
- Chief executive
- Ambar Sur Founder and Chief Executive Officer (TerraPay group)
- Compliance / MLRO
- Akbar Hussain Co-founder and Chief Legal and Compliance Officer (TerraPay group)
Recent events
Researched 29 Sep 2026 · Sources
-
Leadership
Oliver James Fellowes resigned as a director on 17 April 2026. Roxanne Louvain Price resigned as company secretary on 13 April 2026.
find-and-update.company-information.service.gov.uk ↗ -
Other
KPMG Audit LLC's report on the 2024 accounts drew attention to a material uncertainty about the firm's ability to continue as a going concern.
find-and-update.company-information.service.gov.uk ↗ -
Leadership
The firm appointed Mohd Saif Abbasi as a director. Directors Marco Boldini and Viktor Lysyuk resigned on 9 July 2025.
find-and-update.company-information.service.gov.uk ↗ -
Funding
The firm allotted new shares for cash of GBP 16.2 million, taking its issued share capital to about GBP 16.95 million.
find-and-update.company-information.service.gov.uk ↗ -
Funding
IFC arranged a USD 75 million debt financing package for the TerraPay group, including loans from IFC, ILX, Finnfund and BIO.
ifc.org ↗ -
Leadership
The firm reconstituted its board on 18 July 2024. Akbar Hussain, Roxanne Price and Mohd Saif Abbasi stepped down as directors and four new directors were appointed.
find-and-update.company-information.service.gov.uk ↗ -
Funding
The TerraPay group announced a Series B round of more than USD 100 million in equity and debt financing.
terrapay.com ↗
Compliance-relevant events of the last three years, newest first: fines and enforcement, investigations, security incidents, licence changes, funding rounds, acquisitions and leadership changes. Each links to its source.
Identifiers
Head-office record
- BIC
- TPSVGB22XXX
- How the BIC breaks down
- TPSVBank
- GBCountry · United Kingdom
- 22Location · reverse billing
- XXXBranch · head office
- Branch description
- Not recorded in the directory
- LEI
- 254900LPWD3PXUGB1W18
- LEI record
- View on GLEIF ↗
- Licence no. · FCA-PSD
- 542256
- How the LEI was matched
- BIC: Mapped to this BIC in the Swift and GLEIF BIC-to-LEI relationship file.Register entry: Matched by Elucidate on the UK company number the register gives.
- Register-entry ID
- c96ab5100e89
Profile
- Type
- Payments & e-moneyPayment institutions, e-money and stored-value issuers, and account-information providers. Licensed under payment-services law (e.g. PSD2 in the EU and UK, the Payment Services Act in Singapore). Taken from the licences on the tracked registers.
- Regulation
- Prudential licenceAuthorised with capital, safeguarding and conduct requirements, e.g. an authorised payment or e-money institution in the EU or UK, a major payment institution in Singapore, or a MiCA crypto-asset service provider.
- Register licences
- 1 entry on 1 register
- Activities
- Payment services
- Licensed in
- United Kingdom
- Website (register)
- terrapay.com ↗
- Country · region
- United Kingdom · Europe & Central Asia
- Trading venues (MIC)
- No MIC registered under this LEI list of 2026-09-17
- OFAC sanctions
- No listing cites this BIC
- EU sanctions
- No listing matched this BIC or its LEI
- Country sanctions
- No country programme
Types come from Swift’s BIC classification, the licences on the 22 tracked registers, and the ECB and FSB bank lists. Most banks outside the euro area appear as financial institutions, because their supervisors’ registers are not tracked yet.
Ownership and group
GLEIF relationship records
GLEIF’s relationship records name no parent for this LEI, and no group page is published for it.
Addresses
- Registered address
- 107 CHEAPSIDE FLOOR 2ND LONDON EC2V 6DN UNITED KINGDOM
- Operational address
- 107 CHEAPSIDE FLOOR 2 LONDON LONDON EC2V 6DN UNITED KINGDOM
ISO 20022 identification
As an agent in a Swift cross-border payment message (CBPR+)
A CBPR+ message identifies this institution by its BIC, and may add its LEI or a clearing code. CBPR+ does not allow a name and postal address next to a BIC.
- Identified by
- BIC, with its LEI
- Roles in CBPR+
- Any agent, including the instructing and instructed agents
CBPR+
For cross-border payments on Swift: the BIC, with the LEI and clearing code where known
<FinInstnId>
<BICFI>TPSVGB22XXX</BICFI>
<LEI>254900LPWD3PXUGB1W18</LEI>
</FinInstnId>Full record
Every ISO 20022 element the directory holds. Base ISO 20022 allows them together. CBPR+ does not allow a name and address next to a BIC
<FinInstnId>
<BICFI>TPSVGB22XXX</BICFI>
<LEI>254900LPWD3PXUGB1W18</LEI>
<Nm>TERRA PAYMENT SERVICES (UK) LIMITED</Nm>
<PstlAdr>
<TwnNm>LONDON</TwnNm>
<Ctry>GB</Ctry>
<AdrLine>107 CHEAPSIDE FLOOR 2ND LONDON EC2V 6DN</AdrLine>
</PstlAdr>
</FinInstnId>The BIC, name and address are as published in Swift’s BIC directory. The LEI comes from the Swift and GLEIF BIC-to-LEI file. Check them against your own records before use.
Claim this profile
Work at Terra Payment Services (UK) Limited?
Claim this page to have it marked as verified by the bank, and to send us corrections. We verify every claim before anything changes on the page.
- 01Submit Tell us who you are, using your work email.
- 02We verify We check the email domain and confirm your role with the bank. This usually takes up to five business days.
- 03Profile claimed The page is marked as claimed and verified. You can send us corrections at any time.
Claim received
Thank you. We will email your work address once the claim is verified. Until then, the page stays unclaimed.
The claim was not sent. Try again, or email contact@elucidate.co.
Sources & method
Every value comes from a public source, such as Swift’s ISO 9362 BIC directory, GLEIF or the OFAC and EU sanctions lists. Most sources are matched on a BIC or an LEI, not on a name.
Swift GPI membership is matched on names and is indicative. A missing sanctions match does not mean that no listing applies. Always screen against the official lists.
Register entries are not screened against sanctions lists. The sanctions facts on this page cover the BIC and its LEI only.
An institution is one entry in the directory: a BIC8 in Swift’s directory, or a firm on a tracked register that holds no BIC. Licences held by an institution with a BIC are shown on its page.
Read the methodology →Credits for this page
- FCA Financial Services Register - Payment Institutions & RAISPs—Financial Conduct Authority (FCA) · register ↗ as at 25 September 2026
- Overview, authorisation, partners, products, leadership and events—researched per institution by an AI model with web search, from the firm's own website, terms and filings, regulators' registers and notices, company registers and news. Licences, partners, figures, people and events link to their source, and each card shows the research date. AI research can be wrong or out of date, so check key facts at the source.
Assess the financial crime risk behind a BIC
A BIC identifies an institution; it does not assess it. The Elucidate FinCrime Index (EFI) is an independent score of the financial crime risk of banks, built for correspondent banking and counterparty due diligence.
Book a demo