About

Technological advancement can be seen in just about every aspect of life, from the distribution of the goods and services that we have come to rely on, to how we pay for them with eCommerce, contactless terminals and in some places even with facial recognition. But not everything has changed. Whilst Fintech firms strive to challenge the legacy institutions such as banks to persuade customers to switch to their latest app or new generation financial instrument, what of the underlying technologies that enable the payments? Today’s payment settlement platforms rely on the same systems that have been in use for years. These platforms are unable to be future proofed whilst also suffering from processing bottle necks that delay the transfers by hours and sometimes days. The question is can these problems be overcome?

Who would have thought that man would walk on the moon? Most thought that impossible, until it was done!  To get to the moon mankind had to think beyond the existing and create the new frameworks and new technologies to achieve what had never before been achieved.

GRPSN (Global Realtime Payments Settlement Network) has embarked on just such a journey and will deliver the payment network of tomorrow using ‘open data’ to provide account to account settlement in real-time.

The new network, expected to go live in early 2022, will provision the conventional networks at the same time enabling account to account settlement applications such as TaluCard, which will be the pilot issuer/acquiring system. Most importantly the technology will enable new functionalities to make future innovations more readily deployable and scalable then current legacy systems allow.

Team

 Collaboration is the key to building a successful team and whilst Industry experience is essential to the construction of the GRPSN network we must equally look to the adopters to learn how best they would like to use such a service.

Our team incorporates both industry insiders as well as early adopters to amalgamate the benefits of attained knowledge and fresh perspectives. This approach results in both an enhanced user experience and the increased security protection required to stem the growth of fraud within the payments industry.

Legacy

 In today’s world the customer experience is a key differentiator between service providers, with ease of use being one of the leading drivers in customers adoption criteria. This ease of use, and accompanying aesthetics, is made ever more difficult to attain in light of the necessary increase in regulations, such as PSD2 and Strong Customer Authentication, attempting to combat fraud. These requirements have driven more friction in to the customer experience and has led to latency in the adoption of new standards and significant transaction abandonment for the eCommerce industry.

The global legacy networks, which are largely controlled by the industry behemoths, are not motivated to make changes to an industry, within which they prosper, and is projected to grow in value to over $130b by 2028. From the perspective of the current dominant corporations the status quo functions perfectly for the time being and very much in their favour.

It is time for the payments industry to look forward and to create a system that is both future proof and customer centric.

Services

Network

Here at GRPSN we are creating the world’s first global real-time payments settlement network to enable effectively instantaneous payments between accounts irrespective of geographic proximity. This new technology embraces and enables Open Banking to leverage its advantages and further stimulate the revolution in banking connectivity. With GRPSN enabled technologies, transactions, account to account, Cross Border and Currency Conversion will all be processed in real time and will settle in the receiving account within seconds of the transaction being processed, at a fraction of the current cost.

Scheme

With GRPSN, point of sale merchants, as well as online sellers, connect directly to the network, in effect, acting as acquirer on their own behalf and thus empowering them to drive loyalty between themselves and their customers rather than the faceless leviathans that currently dominate the payments industry.

The demand for a frictionless, contact-free, and secure shopping experience has greatly increased in the last 18 months and the global demand for real-time payment systems has accelerated the development of account to account payments. Moreover, PSD2/Open Banking further stimulates innovation in this space which GRPSN is set to deliver.

Careers

 Ever used a debit card to make a purchase, withdrawn money from a cash machine, sent money to a friend or bought something online?

 Have you ever forgotten your PIN, been sent an OTP that didn’t work, or are you nervous about entering your account or payment information online?

 Why not join our team and make a difference? Email careers@grpsn.com with a brief description of yourself and skill set for an application form. When you join GRPSN you will be helping to change the way the world pays for goods and services.

Contact

Email us

Please let us know how we can help you by emailing to help@grpsn.com and we will respond as quickly as possible.