In a recent interview with Payments Consulting Network, Barry O’Sullivan, Head of Banking and Payments Infrastructure at OpenPayd, shared insights into the company’s mission to revolutionise banking and payments through embedded financial services.
Expanding Global Payment Capabilities
OpenPayd is committed to offering rail-agnostic solutions that facilitate efficient money movement and management. The company plans to expand geographically by obtaining new licenses and enhancing its infrastructure to provide local payment solutions and real-time settlements, thereby reducing reliance on traditional, slower international transactions.
Partnering with Banks for Enhanced Services
O’Sullivan highlighted that smaller banks often depend on tier-one banks for clearing services, which can limit their global payment capabilities. By partnering with OpenPayd, these banks can access global payment rails via a single API, enabling them to offer competitive solutions without extensive investment in building their own networks.
Looking Ahead
OpenPayd’s focus for the coming years includes expanding its customer base, increasing transaction volumes, and entering new markets such as travel and insurance. The company’s commitment to innovation and collaboration positions it well to meet the evolving needs of businesses in the digital economy.
For a comprehensive understanding of OpenPayd’s vision and strategies, read the full interview with Barry O’Sullivan on Payments Consulting Network.