Headquartered in Europe, RS2 have launched a new service as a global full-service payment provider.
We spoke to Radi El Haj, RS2 CEO, to find out what this move means for the global payment services market.
RS2 is already present in every region of the world – so what are you hoping to achieve with this move?
Today, RS2 is already one of the most sophisticated backend processors with physical presence in all major regions and clients all over the world.
We are now elevating our product offering to become a full service payments enabler, bringing our acquiring and issuing capabilities to partners world-wide; by allowing our clients to accept payments in any currency and through any network, including crypto currencies and alternative payment methods, as well as enabling our partners to issue payment cards and wallets, we’ve become the only global one-stop payments shop.
While it’s true that we are present in every global region from a processing perspective, we do not have and will not have licences outside of Europe. Our intent is to offer the market a single platform for both issuing and acquiring globally.
This gives us the power to act as a one-stop payments shop, including issuing payments products (cards, wallets, others) as well as acquiring transactions on behalf of our clients, in any currency including crypto world-wide.
What kinds of challenge will you solve for your customers and their clients?
The global payments industry is more complex than it needs to be; acting as a central hub, our global payment enablement platform allows our partners to tap into the global payments market with one relationship, one contract, and one integration.
The state-of-the-art technical interfaces give merchants and partners the ability to build services and products on top of our platform allowing them to service their customers best without having to worry about payments.
We have also found a way to eliminate entry barriers for our partners; if a license is required to operate in a market, we act as licensed entity allowing our partners to focus on what they do best – all services are white-labeled with us being behind the scenes.
As our platform is explicitly built with multi-national commerce in mind, we are uniquely positioned to address the growing market of cross-border payments; a market that is predicted to grow to one trillion USD by 2030.
For instance, if you do not have an issuing or acquiring licence in a particular market, we can act as the licensed entity in partnership with our clients and partners on your behalf.
If you are not familiar with the regulatory requirements in a market you want to enter, we can manage the business in that market on your behalf. Our service is white-labelled, meaning it appears to your end customer under your branding with flawless execution and seamless integration.
The ability to solve challenges across borders is going to be invaluable in the decade ahead: McKinsey & Co predict that cross-border e-commerce is going to grow to $1 trillion by 2030.
Can you give me some examples of this service in action?
Through our omni-channel enabled, consolidated platform we provide issuing and acquiring services to our global client base, all under the partner brand and fully compliant with local regulatory and legal requirements.
We are working with many multi-national clients today that seek this flexibility, such as acquiring in North America for partners that are historically focussed on the European market but that want to expand globally.
We also enable acquiring in APAC and Latin America with this model today. The service provides for consolidated payments, central reconciliation across regions and acquirers, streamlined disputes and chargeback management, and single view reporting and service management, allowing to manage the business and controlling risk globally in a centralized fashion.
At the moment, we’re working with clients in Europe to enable them to do business in APAC and LATAM. Likewise we are enabling US clients in North America to do business in Europe.
Through our omni-channel consolidated platform we are able to provide issuing and acquiring services on behalf of these clients, all under their own brand and fully compliant with local regulatory and legal requirements.
We enable these clients to consolidate their payments, manage reconciliation and chargebacks in a fully integrated fashion with their own portals providing a single view, thereby enabling them to manage their business and controlling risk globally.
What are the benefits of this approach for merchants and acquirers?
We provide any size of business with a tailor-made solution that suits their needs, not simply a “one-size-fits-all” approach. Thanks to our dynamic and fully configurable platform using the latest microservice technology, with a single API sandbox integration, we can deliver both in-store and e-commerce payments for merchants of all sizes.
For multi-national clients we offer the capacity to consolidate their entire business on one single global platform. On the issuing side, we offer products from pre-paid cards to debit-, credit-, and charge cards combined with loyalty and rewards products.
All of this is done with real-time analytics and 24/7, best-in-class transaction monitoring and fraud prevention and detection technologies delivered in a fully-secured cloud environment.
Our reconciliation API provides the clients with an automated feed to their GL and accounting system in a multi-currency environment, eliminating any manual booking and consolidation.
Find out more about RS2’s new service as a one-stop payment solutions for merchants and PSPs all over the world at rs2.com and visit them at Money2020 Amsterdam at stand D30
RS2: a single platform enabling global commerce
Present in every major market and region in the world, RS2 has now launched its own acquiring business, making the company a global one-stop shop for the full spectrum of payments services across borders, world-wide.
- Tailored acquiring solutions for any size of merchant in any market
- Build in-store and e-commerce acceptance solutions quickly and easily through RS2 “Shop and Pay” solution – accept multiple payment methods in less than 30 minutes
- Consolidate multi-market business lines on a single global platform
- Full regulatory and legal compliance across all markets
- Complete range of issuing services from pre-paid to debit/credit combined with loyalty and rewards
- A single, proprietary technological platform running in the cloud
- A flexible, modern, proprietary API infrastructure using microservices technology
- A totally secure platform with cutting-edge transaction monitoring and fraud prevention techniques
- An automated GL feed to accounting and reconciliation backend systems
Find out more at rs2.com or visit us at Money 2020 Amsterdam, Stand Number D30
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