Riyadh – Mubasher: Universal Payment Network (UPN), a FinTra Holding company, has launched the UPN Consortium at Money20/20 Middle East in Riyadh, according to a press release.
The platform covers payment networks, banks, financial institutions, digital wallets, and remittance providers to help shape the network’s strategy and cross-border payment infrastructure.
This comes as part of UPN’s strategy to expand across more than 50 markets, covering over 500 million accounts and more than 100 alternative payment methods (APMs).
UPN also completed its first live transaction from a local African wallet through its global network, marking the transition from development to live operations.
The consortium will allow participating institutions to contribute to UPN’s roadmap, pricing principles, market priorities, and cross-border payment and remittance solutions, while UPN remains responsible for operating and developing the network.
The network supports multiple transaction categories, including peer-to-peer (P2P) transfers between individuals and connected accounts and wallets, person-to-merchant (P2M) payments across physical stores, e-commerce platforms and digital marketplaces, and business-to-business (B2B) payments across connected markets.
