TransferMate, a B2B payment infrastructure-as-a-service (IaaS) provider, has collaborated with cross-border payments company RTGS.global to join their global real-time settlement network.
The alliance aims to streamline cross-border transactions for businesses by utilising RTGS.global’s instant settlement capabilities.
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This integration will enable TransferMate to offer its business customers to make international payments in real-time to reduce the need for traditional banking intermediaries.
RTGS.global solution addresses common issues in cross-border payments such as liquidity management, facilitating risk-free transactions across various currencies and regions.
By joining RTGS.global’s network, TransferMate will enhance the network’s presence in over 200 countries and territories.
RTGS.global’s network operates on a Payment vs Payment (PvP) basis, which eliminates transaction fees at the point of transfer and removes the necessity for pre-funding bank accounts.
Furthermore, the peer-to-peer transaction model employed by RTGS.global’s network eradicates intermediaries from the payment process.
RTGS.global executive chairman and CEO Marcus Treacher said: “Welcoming TransferMate to the RTGS.global network is a big moment for us and the industry.
“Working with TransferMate to make B2B payments quicker, more transparent, and more cost-effective for everyone closely aligns with our mission to modernise the global financial system and enhance the efficiency of cross-border transactions.”
TransferMate CEO Sinead Fitzmaurice stated: “RTGS.global and TransferMate are two organisations on the same mission: to transform how money moves across borders. Our worldwide payment coverage, built on the foundation of over 100 licences, means clients of RTGS.global can now pay into more countries and territories than they’ve ever been able to before – all in a fully regulated, secure network. This partnership can redefine cross-border payments, setting new benchmarks for speed, transparency, and security.”
“Through our collaboration with TransferMate, an innovative and progressive firm who we are proud to collaborate with, we are excited to demonstrate how our two solutions can combine to address head-on the historic challenges associated with cross-border payments and liquidity management.”
This month, TransferMate collaborated with Boost Payment Solutions to integrate its payment infrastructure with the latter’s payment solution, Boost 100XB.
