Cross Borders, Cross Industries, Cross Payment Types: FIS RealNet Solution Changes the Game in Real-Time Payments
- FIS RealNet™ is a new cloud-based software-as-a-service (SaaS) platform that will enable account-to-account (A2A) transactions for businesses, consumers and governments over real-time payment networks.
- The new platform will simplify domestic and cross-border payments, allowing users to manage the entire payments journey from initiation through processing, clearing and settlement—so that payments can be made in seconds rather than days.
- Whether corporations, insurance companies, government agencies, state lotteries or gig workers, RealNet offers the potential of speeding payments to workers, citizens, customers and suppliers.
The new platform is available in the
U.S., and will be followed by the U.K.and Europe, with additional markets expected later this year and beyond.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210428005655/en/
The FIS RealNet platform will make it easier for organizations across all industries to send, receive and accept payments, whether they are engaging with a consumer or business, or with their own employees. The platform functions as a “network of networks,” utilizing a full range of existing domestic and cross-border payment rails to simplify and speed up the processing, clearing and settlement of payments.
By using a smart-routing decision engine, FIS RealNet identifies the fastest, most cost-efficient payments option for a given transaction in real-time—whether ACH, same-day ACH, Wires and RTP®—and automates the end-to-end process.
“Not only will the RealNet platform speed up payments by helping to enable real-time money movement, but it will also do so in a way that is seamless, reliable and secure for organizations around the globe,” said
“Our vision for RealNet is to help power a real-time economy, regardless of industry, whether business-to-business, business-to-consumer, consumer-to-business, government-to-consumer or anything in-between. We are confident this new platform will be a great advantage to the organizations that use it.”
As a cloud-based, SaaS platform, RealNet will utilize application programming interfaces (APIs) to integrate with other FIS core banking and payments solutions. The new platform is available in the
“The future of payments is increasingly real-time, but we have yet to see it all working together seamlessly nor have we seen corporations make that giant step to catch up to banks. Additionally, each country is moving at a different pace and has various levels of maturity when it comes to leveraging real-time payments as a business norm,” said
FIS will be featuring RealNet at its upcoming virtual customer event FIS Emerald X
FIS is a leading provider of technology solutions for merchants, banks and capital markets firms globally. Our employees are dedicated to advancing the way the world pays, banks and invests by applying our scale, deep expertise and data-driven insights. We help our clients use technology in innovative ways to solve business-critical challenges and deliver superior experiences for their customers. Headquartered in
1 FIS will provide a technology platform that orchestrates these services. Payment services/funds transfer capability will be provided by a network of regulated financial institutions subject to their terms and applicable laws and regulations.
Senior Vice President