Universal Payment Network (UPN), owned by FinTra Holding, has launched the UPN Consortium, an open global platform designed to bring together payment networks, banks, financial institutions, digital wallets, remittance companies and open finance providers.
Announced during Money20/20 Middle East in Riyadh, the consortium aims to create a collaborative framework where participating institutions can contribute to UPN’s strategy, roadmap, pricing principles, market priorities and the development of cross-border payment and remittance solutions.
UPN currently spans more than 50 markets worldwide, covering over 500 million accounts and providing access to more than 100 Alternative Payment Methods (APMs). The company also announced the completion of its first live transaction from a local wallet in Africa through the global UPN network, marking its transition from development into live operations.
Connecting Local Payment Systems Globally
UPN is designed to operate as a neutral interoperability layer connecting local payment systems, financial institutions, wallets, remittance providers and open finance platforms through a unified global infrastructure.
The model allows participating institutions to maintain their local identity, regulatory responsibilities and customer relationships while connecting with payment ecosystems in other markets.
According to Dr. Waleed Sadek, Founder and CEO of FinTra Holding, payment ecosystems increasingly operate across separate technological, commercial and settlement environments, creating additional complexity for institutions seeking to connect with new markets.
UPN aims to address this fragmentation by reducing the need for multiple bilateral integrations and creating infrastructure through which eligible institutions can send and receive payments and remittances across connected markets.
From P2P to Cross-Border B2B Payments
The network is designed to support several transaction categories, including peer-to-peer (P2P) transfers between individuals and connected accounts or wallets, person-to-merchant (P2M) payments across physical stores, e-commerce and digital marketplaces, as well as business-to-business (B2B) trade payments.
The UPN Consortium is open to eligible organisations across the payments and financial services ecosystem, including card and instant-payment networks, national payment switches, banks, BNPL providers, mobile money operators, digital wallets, remittance and FX companies, open banking providers, payment processors and acquirers.
Applications will be evaluated based on factors including regulatory standing, market coverage, compliance controls, technical readiness, settlement capabilities and potential contribution to the wider ecosystem.
While consortium members will participate in shaping strategic and market priorities, UPN will remain responsible for operating and developing the underlying network.
Sadek said the company’s approach is based on connecting successful local payment systems rather than replacing them, with interoperability forming the foundation of UPN’s global infrastructure.
The launch comes as UPN moves into live operations, combining its reach across more than 50 markets, over 500 million accounts and more than 100 alternative payment methods to build interconnected payment and remittance flows across different regions.
