TerraPay adds payee verification to the Kinexys Liink network

Incorrect recipient details remain a common cause of failed cross-border payments. TerraPay, a UK-based money movement company, has integrated its TerraPay Verify solution with Liink Confirm, an application from Kinexys by J.P. Morgan, the bank’s blockchain business unit.

The integration allows participants in the Kinexys Liink network and TerraPay Verify clients to check bank account and digital wallet details across multiple markets before initiating payments.

Verifying details before funds move

Banks and non-bank financial institutions connected to Kinexys Liink gain access to TerraPay Verify capabilities for checking bank accounts and digital wallets. Cross-border payments increasingly involve both types of channels. Verifying recipient details before funds are sent is intended to reduce settlement delays, operating costs, and fraud risk associated with incorrect data.

Paul Atkinson, Head of Kinexys Liink Product at Kinexys by J.P. Morgan, said the integration helps financial institutions and non-bank financial institutions improve control and reduce payment fraud throughout the cross-border payment lifecycle. For TerraPay, the collaboration extends the global reach of TerraPay Verify. The company’s Vice President of Payment Partnerships noted the need for a reliable way to verify recipients across both bank accounts and digital wallets.

Data quality and failed payments

Research by LexisNexis Risk Solutions shows the scale of the issue. Its “True Impact of Failed Payments 2026” study surveyed 150 financial institutions across North America, Europe, the Middle East, and APAC. Incorrect beneficiary information accounted for 21% of failed payments, while account number issues and incorrect bank details caused around 15%.

The study also found that only 2% of financial institutions achieve a straight-through processing rate close to 100% for cross-border payments. TerraPay links the collaboration to the goals of the G20 roadmap for enhancing cross-border payments, including improved transparency and accessibility.

TerraPay provides a single connection to a cross-border payments network covering mobile wallets, bank accounts, and cards. The company also operates Xend, a payments interoperability network for cross-border transfers to and from digital wallets.