#USA #New York #payment solutions #Instant Payments #Montran

Montran Bags Central Banking Award in Payment Services

Montran, a leading provider of Payment and Capital Market Infrastructure solutions, has recently been awarded the prestigious 'Payment Services Development' accolade at the Central Banking Awards. This recognition is a testament to Montran's relentless pursuit of excellence in achieving financial infrastructure interoperability with their innovative Instant Payments System (IPS).

A Game-Changer in Payment Processing

The significance of Montran's IPS is profound, as it empowers a diverse range of financial entities—ranging from central banks to commercial organizations, and including non-bank financial institutions (NBFIs) and mobile network operators (MNOs). The seamless integration of their instant payment solutions is transforming transaction efficiencies, ensuring security, and enhancing overall accessibility. Currently, Montran's solutions are operational in ten different countries, from Angola to Panama, each benefiting from cutting-edge instant payment services.

One of the standout achievements highlighted by Montran is the recent launch of BORICA's TIPS Connectivity Module in Bulgaria, which marks a significant advancement in cross-border instant payments. This reflects Montran’s commitment to operational efficiency and compliance with the highest European standards.

Pushing the Boundaries of Instant Payments

The Montran IPS has been expertly crafted to ensure scalability, flexibility, and security, making it the preferred choice among central banks and national clearing systems. Key features of the IPS include:

• - Real-Time Processing: Always ready with a 24/7 processing capability.
• - Fraud Management: Advanced tools in place to safeguard each transaction from various fraud threats.
• - QR Code Payments: Seamlessly integrates digital transactions.
• - High Capacity: Capable of processing over 5,000 transactions per second.
• - Global Integration: Direct links with key international systems like the ECB TIPS and PAPSS.

Since its inaugural launch in 2018, Montran's IPS has undergone numerous enhancements, driven by real-world tests and future-proofing measures, including configurations for fraud detection and liquidity management.

Cristi Jurca, the IPS Product Owner at Montran, articulated the company's vision: "As instant payments become the global standard, we remain committed to supporting central banks and financial institutions in accelerating digital transformation with a scalable, dependable financial infrastructure."

Looking Ahead: Expansion and Innovations

The growth of Montran's instant payments ecosystem is nothing short of impressive, with three additional systems currently under development and important projects underway in Guatemala and various parts of Asia. Additionally, Montran aims to blend its IPS capabilities with emerging financial technologies, such as Central Bank Digital Currencies (CBDCs) and improved risk management strategies to combat fraud.

Ciprian Tesa, Chief Technology Officer at Montran, echoed the sentiment towards the rapid evolution of digital payments: "The acceleration of digital payments is undeniable, and Montran is at the forefront, providing robust, real-time financial solutions that foster economic growth and financial inclusion."

Montran continues to focus on its mission to unify the world financially, equipping central banks and financial institutions with cutting-edge digital payment technologies designed for today's fast-paced economy. With installations and operations spanning over 90 countries, Montran stands as a key player in the global financial infrastructure landscape. For more details, visit www.montran.com.