Good question. Firstly it’s a matter of reach. How can I as a South African use RTP to pay for a digital good online? I can’t because all RTP systems are designed and used in national systems. That being RTP in the US, SEPA in Europe or EFT in South Africa. The only current global payments mechanism is the card networks really. We aim to be a global payments network like to RTP with account to account payments.

Secondly it’s a matter of access. Most domestic RTP systems are closed to banks. We want to open up to all account holding institutions, whether it’s banks, digital wallets, mobile money or potentially non custodial wallets.

Lastly we want to standardise the APIs so that applications can start building on top of your account. We see a world where you don’t need embedded finance. I should be able to use my current financial account everywhere. Whether that’s in Twitter to send a tip or on shoplift to receive payments directly to my account.