Headquarted 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 one of the most sophisticated backend processors with physical presence in all major world regions. We are now elavating our produt 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 payments, as well as enabling our partners to issue paymet 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 as a processor, we do not have and will not have licences outside of Europe. We intend to offer the market a single platform for both issuing and acquiring globally. This gives us the power to issue payments products (cards, wallets, others) and acquire transactions on behalf of our clients, in any currency including crypto world-wide.
What kinds of challenge will yousolve 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 platform allows our partners to tap into the global payments market with one relationship, one contract, and one integration. This state-of-the art technical interface gives merchants and partners the ability to build services and products on top of our platform allowing them to service their customers better without having to worry about payments.
We also eliminate entry barriers for our partners; if a license is required to operate in a market, we act as the licensed entity allowing our partners to focus on what they do best – all services are white-labeled with us 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 USO 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 client’s 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 historically focused on the European market but looking 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.
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 lotest 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.
PAYMENTS CARDS & MOBILE MAGAZINE – MAY / JUNE 2022