As the U.S. continues determining the path to faster payments, a real-time payments network is going live in Nicaragua to connect consumer and corporate customers and government agencies.
PaySett Corporation, the company that provided the product, called PayExpedite, framed the integration in a May 23 news release as one that would improve commerce flows in the country and ensure payments are secure and irrevocable.
Paysett is an Atlanta, Ga.,-based payments software provider for many of the largest global banks, although it is equally focused on developing national-level payments systems. Its PayExpedite product is an ISO 20022 based server built for automated clearinghouses and central banks, to allow member financial institutions to process transactions in real time.
The company has more than 250 ACH and direct entry clients in 12 countries, including eight national electronic payment clearing houses in Latin America, the Caribbean and Asia.