Interoperability Without Borders: Building the Next Generation of National Payment Schemes - Powered by Pay10

Picture Credit: by tenor

National payment systems such as India’s UPI have transformed domestic payments, processing billions of transactions monthly with speed and affordability. Similarly, Bahrain, UAE, Brazil, and others have built strong local rails, creating seamless and efficient payment ecosystems. However, the future demands expanding these systems beyond local borders to deliver interoperable, cross-border payment solutions.

Saad Kaleem, Global CEO of Pay10, stresses that national payment rails deserve global reach to facilitate borderless payments. Fintechs like Pay10 see their responsibility in bridging gaps across countries and connecting people through interoperable payment platforms. The goal is to eliminate barriers crossing borders, enabling smooth, efficient transactions regardless of geography.

Lisa Nyman, Chief Revenue Officer of Pay10, highlights collaboration as essential. Regulators in regions such as the Middle East, including Bahrain, UAE, Qatar, and Saudi Arabia, have been proactive in supporting interoperable payments to boost tourism and financial inclusion. Pay10 works closely with regulators, banks, and international wallet providers to create a seamless ecosystem that benefits consumers and merchants.

Banks and fintech firms complement each other—banks provide the trust and regulatory adherence, fintechs drive innovation and user-friendly experiences. Bringing both together lowers costs and enhances SME access to digital financial services, while providing alternatives to cash that feel just as instant.

A key pillar of Pay10’s strategy is deploying open dynamic QR payments. Unlike closed-loop solutions, open QR codes enable any consumer from any country with a compatible wallet or card to pay instantly at merchants worldwide. Unified QR payments reduce friction for travelers in airports, taxis, hotels, and retail — offering a way to accept payments smoothly and securely at micro and small merchants globally.

This approach is not only customer-centric but merchant-friendly. Pay10’s network provides near-instant settlements and low-cost transactions, seeking to create the experience of cash with the convenience of digital payment.

Pay10’s wallet solution integrates with domestic debit and credit cards to promote national financial ecosystems while enabling cross-border interoperability. This balance strengthens local markets while expanding payment acceptance globally, giving consumers and businesses flexibility to transact wherever they are.

Picture Credit: by medium

 Currently licensed in four countries, Pay10 plans to expand to over 20, aiming to cover major global regions with its interoperable payment infrastructure. The cross-border payments market is vast, recently surpassing $2 trillion, with increasing demand for fast, affordable, secure solutions—a gap Pay10’s platform is well-positioned to fill.

Pay10 also offers payment aggregation, cross-border B2B payments, and integrated apps designed to enable smooth commerce within and across borders.

Pay10 advocates moving interoperability beyond concept discussions towards practical implementation by uniting regulators, banks, fintechs, and merchants globally. This collaborative ecosystem promises inclusive digital economies where payments are frictionless, global, and instantaneous.

As national payment rails achieve domestic success, expanding interoperability without borders becomes the next frontier. Under the leadership of Saad Kaleem and Lisa Nyman, Pay10 is pioneering open QR payments, collaborative ecosystems, and global expansion to build the next generation of interoperable national payment schemes. Their vision is a world where payments transcend borders effortlessly, empowering consumers, merchants, and economies worldwide.