RTGS.global, the next generation settlement company revolutionising cross-border payments, and TransferMate, the world’s leading provider of B2B payment infrastructure-as-a-service (IaaS), have today announced a strategic partnership which sees TransferMate join RTGS.global’s real-time settlement network to streamline cross-border payments for global businesses.
By integrating with RTGS.global’s instant settlement infrastructure, TransferMate will deliver seamless, real-time international payments for RTGS.global’s business customers, reducing reliance on traditional banking intermediaries and eliminating the risk associated with moving money cross-border.
RTGS.global’s instant atomic settlement solution solves historic and emerging challenges associated with cross-border payments and liquidity management. Its platform enables quick, secure and risk-free transactions across different currencies and geographies. Partnering with TransferMate, who have built a world leading, regulated payments infrastructure, will empower businesses making cross-border payments to transact as easily as if making a domestic funds transfer.
By joining RTGS.global’s network, TransferMate will expand RTGS.global’s reach in more than 200+ countries and territories across the globe, and enable businesses using the network to increase liquidity, reduce costs, and improve transaction speeds.
RTGS.global’s Executive Chairman and CEO, Marcus Treacher, commented: “Welcoming TransferMate to the RTGS.global network is a big moment for us and the industry. The need for real-time, secure, and efficient settlement solutions is more critical than ever, particularly with the move to T+1 settlement cycles globally. 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.”
Sinead Fitzmaurice, Chief Executive Officer at TransferMate, said: “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 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. This partnership can redefine cross-border payments, setting new benchmarks for speed, transparency, and security.”
Transactions on RTGS.global’s network are conducted Payment vs, Payment (PvP), therefore no deduction fees are taken at the point of transaction, nor is there a requirement to pre-fund either bank account as with correspondent banking services. Moreover, the peer-to-peer nature of transactions conducted on the network removes all intermediaries in the payment chain, ensuring the payment arrives instantly.
“This is a game-changer for the market,” continued Treacher. “Until now, moving money between different jurisdictions across multiple time zones has been plagued by risk and uncertainty, as well as being limited to normal banking hours internationally. 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.”
RTGS.global and TransferMate will be showcasing their partnership at Pay360 from 25-26 March at ExCel London, alongside more than 6,000 members of the global payments ecosystem.