FinTra Holding Launches UPN Consortium to complement UPN Network operations across 50 Markets
Universal Payment Network (UPN), owned by FinTra Holding, has launched the UPN Consortium, an open global platform bringing together payment networks, banks, financial institutions, digital wallets, remittance companies and open finance providers to help shape the network’s strategy, market priorities and cross-border payment infrastructure.
The consortium was announced at Money20/20 Middle East in Riyadh, as UPN expands across more than 50 markets, serving more than 500 million accounts and providing access to more than 100 Alternative Payment Methods (APMs).
UPN also announced the completion of its first live transaction from a local wallet in Africa through the global network, marking a key step in the network’s transition from development to live operations.
The UPN Consortium is designed to provide a global framework for collaboration across the payments and financial services ecosystem, enabling participating institutions to share market insights and contribute directly to UPN’s strategic and commercial priorities.
Participants will have the opportunity to contribute to the network’s future direction, including its strategy, roadmap, pricing principles, market priorities, and the development of cross-border payment and remittance solutions.
UPN will operate the consortium and continue to develop its infrastructure and capabilities, while providing participating institutions with a structured framework to contribute to the network’s development. The model is designed to maintain clear operational and regulatory responsibilities as UPN builds a secure and scalable global network.
Dr. Waleed Sadek, Founder and CEO of FinTra Holding, said the launch of the UPN Consortium comes as the global payments industry continues to expand across card networks, digital wallets, instant payment systems, remittance services, banking and open finance.
He noted that many of these ecosystems continue to operate across separate technology, commercial and settlement environments, increasing the complexity of connectivity and extending the time required for institutions to enter new markets.
Sadek said UPN was designed to address this challenge by operating as a neutral interoperability layer, connecting participating networks and institutions through unified global infrastructure.
The model enables each institution to retain its local identity, regulatory responsibilities and customer relationships while expanding its reach into other payment ecosystems around the world.
UPN currently spans more than 50 markets worldwide, covering more than 500 million accounts and providing access to more than 100 Alternative Payment Methods, supporting its objective of building an interconnected payments and remittances ecosystem across multiple markets.
Connecting to UPN enables eligible institutions to expand their ability to send and receive payments and remittances, reduce the need for multiple bilateral integrations, and access additional transaction flows and potential revenue opportunities.
Participation in the network may also, subject to the availability of relevant remittance corridors, regulatory requirements, commercial arrangements and settlement structures, support access to foreign currencies and liquidity capabilities.
UPN is designed to support multiple transaction categories across participating markets, including peer-to-peer (P2P) transfers between individuals and between accounts and wallets connected to the network; person-to-merchant (P2M) payments across physical stores, e-commerce platforms and digital marketplaces; and business-to-business (B2B) trad payments across connected markets.
The UPN Consortium is open to eligible institutions across multiple segments of the payments and financial services industry.
These include domestic and international card networks, instant payment networks, national payment switches, banks, microfinance institutions, Buy Now, Pay Later (BNPL) providers, mobile money operators and digital wallet providers.
The target participants also include remittance companies, foreign exchange companies and FX service providers, open banking and open finance providers, account-to-account payment solution providers, payment processors, payment acquirers, government payment platforms, licensed digital asset service providers, and institutions operating in clearing, settlement, liquidity and correspondent banking services.
Participation applications will be assessed against a set of criteria, including regulatory standing, market coverage, compliance controls, technical readiness, settlement capabilities, transaction use cases and the value an institution can contribute to the ecosystem.
Sadek said the next generation of global payments will not be built by replacing successful local payment systems, but by connecting them to one another.
He added that the UPN Consortium provides a practical platform for institutions already moving money to contribute to the development of a network designed with interoperability at its core, while meeting commercial requirements and respecting local sovereignty.
“We invite payment and remittance industry leaders around the world to join the dialogue and contribute to building this infrastructure together,” Sadek said.
The collaborative structure of the UPN Consortium is designed to reflect the needs and priorities of participating institutions while maintaining the operational clarity required to build a secure and scalable network.
Under the model, UPN remains responsible for operating the network and delivering its capabilities, while participating institutions contribute to shaping strategic and market priorities.
The completion of UPN’s first live transaction from a local wallet in Africa through the global payments network this month represents a key milestone in the network’s development and demonstrates its ability to connect local payment ecosystems through its global interoperability infrastructure.
The milestone, together with UPN’s access to more than 100 Alternative Payment Methods and its network of more than 500 million accounts, supports the network’s plans to build global infrastructure capable of enabling interconnected payment and remittance flows across different markets while maintaining local regulatory and commercial requirements.
The UPN Consortium is an open community led by participating institutions across different segments of the global payments and remittances ecosystem.
It provides a structured framework for participants to contribute to the network’s direction, roadmap, pricing principles, market priorities and strategy, while UPN remains responsible for the operation and development of the network.
Universal Payment Network (UPN), a FinTra Holding company, is a global payments network designed to enable instant, sovereign global financial flows through a neutral interoperability layer connecting local payment systems, financial institutions, digital wallets, remittance service providers, open finance platforms and other entities operating under applicable regulatory frameworks.