Real-time payments are set for a boost in 2024. This edition of the “Real-Time Payments World Map” documents how real-time payments are expanding worldwide.
K-Electric Partners with Avanza Solutions for Real-Time Payment System Deployment
K-Electric (KE) has joined hands with Avanza Solutions, one of the leading Fintech organizations across the globe, to implement the Real-Time Payment System (RTPS).
Real-Time Payment System (RTPS) is based on Avanza’s e-BPS which is a bill payment platform powered by Rendezvous, ‘an enterprise middleware’, that enables organizations to provide delivery channel services. e-BPS implementation automates all details of bill payment gateway operations and ensures that transactions are executed from all the sources in a uniform, secure, and efficient manner.
RTPS will facilitate bill payment by directly interlinking all the banks and KE. The middleware facilitates transactional processes and transaction routing functionality by providing a real-time bill inquiry and bill payment services of KE data to banks on a real-time basis.