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PayNetX Global Infrastructure

The true power lies in the harmony of Collaboration, where each contribution adds strength to the collective current of achievement.

PayNet

Welcomes

Central

Banks

Commercial

Banks

Correspondent
Banks

Government 

Agencies

Why become a valued PayNetX PoC partner bank?

According to The World Bank’s Remittance report (June 2023), the global average cost of sending $200 across the border is 6.20% ($12.50). Not to mention, the settlement time is up to 5 business days in many currency pairs.

However, in a recent article, The International Monetary Fund (IMF) has shown some disturbing numbers, highlighting that in some jurisdictions costs are many times above the current average ranging from 14% to a staggering 52% (see below). 

As our infrastructure is designed specifically for banks and built to not only meet but to significantly surpass the targets set in the G20 Cross-Border payments roadmap, we feel confident that PayNetX's innovative approach and Custom-Built DLT technology have the capacity to reduce the transaction cost significantly below the current average especially in these most affected regions while providing consistently previously unseen instant cross-border settlement results in any currency pair and real-time data.

With this in mind, and to prove the above statement, we have announced the upcoming Proof of Concept (PoC) and extend an invitation to Central Banks and Commercial banks from different global locations to actively collaborate and participate in these industry tests.

The PoC will be conducted in a secured and controlled simulated environment, with no real money involved. However, for non-PayNetX member banks who wish to participate, there will be a small PoC fee.

 

The feedback from these collaborations will play a pivotal role in shaping PayNetX's robust governance structure and setting the operational rules for the future of the global financial ecosystem.

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Our work on achieving and surpassing the targets set in the G20 Cross-Border Payments roadmap.

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Become a member

Ready to Collaborate? Contact Us today.

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