Volante launches free SaaS RTP instant payments processing
Volante has announced the launch of its free real-time payments (RTP) and instant payments processing.
The capability to offer RTP is rapidly becoming the norm for large banks and an emerging necessity for smaller and mid-sized banks. Traditional implementation models, with their high costs and long project times, are also not suited to real-time payments.
Volante’s cloud native microservices architecture will offer quicker implementation cycles.
The free offering is for the US Clearing House (TCH) RTP and European SEPA RT1 or TIPS instant payments. Free implementation and onboarding will be provided and there will be no service or ‘per transaction’ fees, although certain limits will apply.
Vijay Oddiraju, CEO, Volante Technologies, says: “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.”
Deepak Gupta, global head of software-as-a-service (SaaS) at Volante adds: “Banks are following two clear routes as they consider their RTP strategies: take a reactive approach and watch the industry and their competitors get RTP-enabled or, look to adopt a more proactive approach using RTP as a means to future revenue-generating services and remain competitive.”
Gupta concludes that its cloud-native payment capabilities, inherent in the VolPay ecosystem, will not only help to remove obstacles to adoption but also provide firms with an extensible platform to include additional payment schemes quickly and ensure compliance with emerging standards.