RTGS.global Expands Cross-Border B2B Payments Network

RTGS.global has expanded the reach of its cross-border payments network by integrating with TransferMate, a provider of B2B payment infrastructure-as-a-service (IaaS).

This integration extends RTGS.global’s reach in more than 200 countries and territories and enables its customers to make international payments in real time, with less reliance on traditional banking intermediaries, the companies said in a Monday (March 24) press release.

RTGS.global’s instant atomic settlement solution enables transactions across different currencies and geographies, while TransferMate’s regulated payments infrastructure makes cross-border payments as easy as domestic funds transfers, according to the release.

“Working with TransferMate to make B2B payments quicker, more transparent and more cost-effective for everyone closely aligns with our mission to modernize the global financial system and enhance the efficiency of cross-border transactions,” RTGS.global Executive Chairman and CEO Marcus Treacher said in the release.

TransferMate CEO Sinead Fitzmaurice said in the release: “Our worldwide payment coverage, built on the foundation of over 100 licenses, 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.”

Quality solutions that include real-time payment rails can address the three most commonly cited pain points of traditional cross-border payment methods — slow speeds, lack of transparency and high costs — by providing rapid clearance, tracking and greater cost efficiency, according to the PYMNTS Intelligence and Citi collaboration, “The Treasury Management Playbook: Spotlight on Cross-Border Payments.”

The report found that demand for cross-border payment solutions has increased as global trade climbed to new heights.

TransferMate and Boost Payment Solutions said March 12 that they partnered to address a rising demand for cross-border payments by combining Boost’s cross-border payment solution for enterprise-level businesses, Boost 100XB, with TransferMate’s payment infrastructure.

This combination will help promote industry-wide commercial card usage and adoption, the companies said.

“By combining our expertise in commercial card optimization with TransferMate’s robust global payout infrastructure, we’re creating a more powerful, seamless payment experience while maintaining the highest levels of regulatory compliance and security that our customers expect,” Boost Payment Solutions founder and CEO Dean M. Leavitt said at the time in a press release.

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