The PayCommerce Network is a banking consortium which provides access to 95+ banks in 75 countries. Global financial institutions and domestic networks and corporations trust us to perform payment transactions; exchanging millions of standardized financial messages over our network. This involves reliable and secure exchange of payment data while ensuring its confidentiality and integrity.
The objective of our payment network is to enable our member’s institutions (banks, corporates and payment service providers) to enable cross-border disbursements and acceptance of payments worldwide. Using the PayCommerce Network and messaging infrastructure, the transaction originators, distributors and beneficiaries can collaborate all on a single platform. This improves transparency, security while saving money. PayCommerce eliminates the use of intermediary parties that are involved in a transaction, in order to improve speed and unnecessary costs, while helping members mitigate compliance and settlement risk.
Members can join PayCommerce Network and will be validated for compliance purposes before they are given access to the network. We are working with the banking communities in countries across the world – to be both a facilitator of payment transactions and a reliable network and messaging infrastructure for our members. We aim to fulfill this duty with maximum efficiency and sustainability.
Our strategy focuses around five (5) key priorities, linked to a specific objective:
Faster Payment Network: Introducing the Federated Ledger(TM)
The objective of this initiative is to democratize the cross-border payments industry and enable same-day settlement inegration across the globe. Watch our Federated Ledger video: Federated Ledger Video.