American fintech firm Volante Technologies has launched its free RTP / instant payments processing on the cloud as a service.

The company claims that its new offering will enable banks of every size to offer immediate payment capabilities to their clients. Currently, RTP is being offered mainly by large banks.

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To facilitate quicker deployment cycles, Volante will offer a cloud native microservices architecture.

Volante said that it will leverage it experience of delivering complex payments projects to offer the same payments platform used by other larger customers to even smaller banks.

Volante Technologies CEO Vijay Oddiraju said: “We have always been passionate about bringing simplification and automation of payments processing to financial institutions. This allows us to bring the power of our payment solutions to all banks.”

The free offer is valid for European SEPA RT1 and US TCH RTP or TIPS instant payments. It offers free onboarding and implementation and doesn’t charge any fee during transactions.

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However, some limits may be applied, the company said.

Volante Technologies global head of SaaS Deepak Gupta said: “Volante’s cloud-native payment capabilities, inherent in the VolPay ecosystem, not only helps to remove obstacles to adoption but also provides firms with an extensible platform to include additional payment schemes quickly and ensure compliance with emerging standards. Speed to market and revenue without having to worry about the cost is our goal.”

In April this year, Mexican financial services firm Banco BASE tapped Volante Technologies to facilitate end-to-end processing for domestic and international transactions. Banco BASE will leverage Volante’s VolPay.

Last year, American asset manager BNY Mellon has teamed up with Volante Technologies to support real-time payments in the US and abroad.