Saxo Payments responds to call for innovation in back-end payments infrastructure

Hannah Nixon, MD Payment Systems Regulator (PSR), said that there is no actual innovation underlying infrastructure, except very few players. She argued that the fact the big high street banks own both the schemes and infrastructure means innovation is not taking place as it needs to be.

Anders la Cour, Chief Executive Officer at Saxo Payments agrees with Hannah Nixon and believes the Saxo Payments Banking Marketplace addresses the issues she highlighted. Via Saxo Payments Banking Marketplace, payments providers like First Data, Tuxedo Money Solutions and Allied Wallet can enable their merchants to perform cross border transfers, irrespective of geographical location of the recipient.

At the heart of the Saxo Payments Banking Marketplace is a global transaction hub, to facilitate international transfers via domestic banking accounts in separate countries and for separate currencies. Saxo Payments provides businesses with access to a global account infrastructure, combined with a competitive FX solution operated on a clouded Oracle-based banking platform.