RTGS.global, the next generation settlement company revolutionising cross-border payments, has today announced the launch of a unique solution for Payment Service Providers (PSPs) that will enable them to offer cheaper and faster international payments to their retail and corporate customers.
Following a period of consolidation in the PSP industry over the last decade, driven by major players like Revolut and Wise, it has become increasingly difficult for new PSPs entering such a saturated market to differentiate themselves. Subsequently, many have chosen to specialise in a specific vertical like higher education or property to stand out and gain market share. With competitive foreign exchange rates and low international payments fees no longer a sufficient differentiator, RTGS.global’s atomic settlement solution will give PSPs a competitive advantage by enabling more efficient movement of liquidity to payment destinations required by their customers. This allows them to pass on instant, 24/7/365 payment capabilities to their network. Cut off times no longer need to exist, and similarly, expensive liquidity management can be a thing of the past.
RTGS.global has built a unique atomic settlement solution that transforms how cross-border payments are made. Its network enables instantaneous movement of funds across borders between financial institutions, with integrated connectivity into local RTGS systems. RTGS.global’s settlement network connects key market participants from individual countries, creating seamless interoperability across borders and currencies.
“There is no doubt that this is a game-changer for the market,” commented RTGS.global’s CEO Jarrad Hubble, who previously spent more than a decade working in the PSP space with the likes of NatWest, RBS and Currencies Direct. “There has been such a lack of evolution and new offerings in the “deep tech” layer of this industry in recent years. By creating new rails for PSPs to move their liquidity and payments instantaneously, the customer experience can be taken to a new level. Ambitious PSPs are desperate for a differentiator in an industry that is hard to stand out in, so with our unique atomic settlement solution we are delighted to provide a real opportunity for them to create a competitive advantage and grow exponentially.”
Using RTGS.global’s sector-and-asset-agnostic ledger, PSPs can settle cross border between each other and give themselves a unique advantage over the competition by providing retail and corporate customers with instant money transfers 24 hours a day, 365 days a year. PSPs save money as they no longer need to set up correspondent banking to hold money overseas, nor do
they need to pay banks per transaction. This puts PSPs in control of their own liquidity and allows them to buy and sell with speed overseas.
It is not just new entrants to the market who will benefit from RTGS.global’s solution. Established brands with a strong market share and reputation, which have grown organically and expanded overseas, can still make payments cheaper and faster for their customers. RTGS.global hopes that larger market players with transaction flows overseas will come together to instantaneously buy and sell across its ledger.
RTGS.global recently signed a pilot agreement with Opal Transfer, which has seen the PSP benefit from real-time liquidity management among its own subsidiaries, no longer relying on cumbersome correspondent banking and liquidity management. By using RTGS.global as the ultimate single intermediary settlement system with other established PSPs, Opal Transfer can deliver payments to new territories without the need to open new subsidiaries or apply for its own licenses.
Opal Transfer’s Managing Director, Gita Petkeviča, said: “As an ambitious business, it’s an exciting moment for us to sign a pilot with RTGS.global, in our opinion one of the world’s most progressive and forward-thinking fintech companies. The speed at which transactions are settled through the RTGS.global network has truly impressed us, and we have confidence that the platform can revolutionise our offering as we continue to scale. We look forward to working closely with the team and seeing the results of our partnership.”
RTGS.global has already received significant interest from multiple global PSPs, including in India, Australia, Turkey, Central Asia and the UK and Europe, and is set to announce key partnerships in the coming months as it looks to prove how its unique service can settle obligations resulting from FX trades and customer credit transfers in multiple currencies in a matter of seconds.
