PaySett Corporation expands its payments partnership with the Barbados Automated Clearing House Services Inc. (BACHSI)
The real time payments (RTP) solution PayExpedite® will complement the current electronic payments ecosystem to allow for the creation of new payment services in Barbados.
ATLANTA and BRIDGETOWN, Barbados, April 26, 2023 /PRNewswire/ -- PaySett Corporation, a global provider of payment solutions, and BACHSI announced today the launch of the new RTP platform based on the ISO 20022 messaging standard.
Natalie Garraway, immediate past chairman (2020-2022) and current deputy chair (2023) commented, "We are elated to have this platform launched in Barbados. This system will be integral in our digital journey as a country as it offers speed, convenience, and reliability. We are grateful to PaySett for partnering with us (BACHSI) to provide such a solution that covers all those key areas that our citizens and customers have been eagerly requesting in a banking solution."
Jesus Garcia, VP of Business Development, added, "Our market proven PayExpedite® solution will integrate seamlessly into the Barbados payments ecosystem to serve the government of Barbados' plans to reduce (and longer term eliminate) the number of cash and cheque transactions while reducing the costs of these traditional payment methods. Each participating financial institution will have at its disposal a robust real time payments platform capable of supporting new service offerings such as emergency payments, P2P payments, digital wallets, eCommerce, and others. The ease, speed, and security capabilities of the PayExpedite® platform will facilitate the country's transition to a more digital economy."
These same financial institutions will be able to process consumer, corporate and government payments in real time through a multitude of banking channels. PaySett's PayExpedite® product has been deployed across multiple countries offering regional financial institutions the opportunity to manage real time payments across their entire geographical market.
About PaySett Corporation
Atlanta Georgia based PaySett Corporation is a global provider of payment software solutions. PaySett provides products/services to assist global financial entities to effectively manage the way money moves throughout their organizations and for their customers. PaySett's two decades of experience moving payments through national and international payment networks has allowed for the development of advance payment software for assisting global banks with the capability to enhance their regional and global payment network processing capabilities. Twelve of the top twenty global banks process payments through PaySett software.
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