Interoperable real-time payments and their potential to revolutionise cross-border developments

Ferdinand Dabitz, Co-Founder and CEO of Ivy, details how real-time payment interoperability could impact the cross-border space.

What are the key trends driving the growth of cross-border payments, and how are real-time, account-to-account (A2A) payments reshaping the industry?

I believe the world we live in should be interconnected, and businesses and consumers should be able to transact cross-border by default. Current developments like tariffs and geopolitical tensions won’t change this. In 2023, cross-border flows reached USD 45 trillion across B2B, ecommerce, and remittances, and are expected to grow to USD 76 trillion by 2030, according to Coinbase, forcing a shift in how value moves worldwide. Companies of all sizes now expect to pay global suppliers, remote teams, and international partners with minimal friction.

That’s what’s driving the move toward real-time, A2A payments. We’re seeing a shift from legacy wire transfers to faster, more transparent systems. Local real-time payment (RTP) networks like Pix in Brazil, SEPA Instant in Europe, or UPI in India are already enabling near-instant settlement. Additionally, I believe stablecoins will serve as an increasingly important payment rail for cross-border transactions, combining fiat stability with digital efficiency. By leveraging blockchain technology, stablecoins can facilitate 24/7 cross-border transfers with near-instant speed and lower fees, particularly for regions that may lack traditional financial market infrastructure or where traditional correspondent banking relationships are limited. That level of interoperability will power a truly connected and automated global financial system.

How can RTP interoperability contribute to the evolution of the cross-border space?

I’ve seen firsthand how broken traditional cross-border payments can be, especially when routed through SWIFT and correspondent banking networks. They’re slow, expensive, and full of inefficiencies. For emerging markets, where access to proper infrastructure is limited, these problems are worse, as transaction costs alone can be a real barrier to inclusion. But I believe we’re at a turning point. With the rise of stablecoins and RTP networks, the way we move money globally is fundamentally changing. RTPs unlock a new layer of efficiency and accessibility, solving the last-mile challenge in global payments. They’re already transforming domestic payments, and the potential they bring to cross-border transactions is even more powerful, as they allow for near-instant transfer of funds, 24/7/365, reduce transaction costs and settlement times from days to seconds, while expanding financial inclusion to underserved regions.

Considering the diversity of domestic payment systems worldwide, what strategies should PSPs adopt to enable real-time, A2A payment interoperability at scale?

Each domestic RTP system has its own setup: different formats, compliance rules, and settlement protocols. Trying to integrate with each one directly just doesn’t scale. It’s technically complex, expensive, and frankly, it’s not a sustainable strategy for most PSPs. The smartest path forward isn’t trying to build direct integrations everywhere, but to partner with infrastructure providers, like us at Ivy, that can abstract away that complexity.

Ivy offers a unified, licenced platform that connects directly to multiple RTP networks and supports stablecoin settlement. Through a single API, PSPs can route payments across jurisdictions, ensure compliance with local regulations, and tap into both traditional and blockchain-based payment rails. This approach eliminates the burden of managing local integrations and regulatory nuances in every market. It accelerates time-to-market, reduces operational overhead, and enables businesses to focus on customer experience rather than infrastructure.

What are the main barriers to implementing interoperable RTPs, and how will PSD3 and Open Banking APIs help solve the fragmented nature of financial services?

The biggest blocker right now? There’s no global standard. While nearly 60 countries have rolled out RTP infrastructures, these systems operate as isolated domestic networks. Europe exemplifies this fragmentation; each nation has developed RTP systems tailored to local requirements, without cross-border coordination or compatibility protocols. This architectural disconnect eliminates potential synergies between systems, leaving international transfers trapped in legacy timeframes of up to five business days.

Addressing the fragmented nature of financial services will require both regulatory action and technology frameworks. This is where PSD3 and Open Banking APIs come into play. PSD3 builds on the foundation laid by PSD2, which mandated banks to open APIs to third parties. PSD2’s implementation exposed inconsistencies: APIs varied significantly between banks, leading to fragmented developer experiences and limited interoperability. PSD3 is expected to tackle these shortcomings by harmonising API standards across the EU, improving security, and creating a more consistent framework for third-party providers. This would lower the technical barriers to integration and help reduce fragmentation in how PSPs connect to financial institutions.

However, even with PSD3, we’re still going to face global fragmentation. Businesses need a single point of access that can cut through this complexity, one that unifies the diverse regulatory, operational, and technical requirements across markets. This challenge is precisely what Ivy addresses by functioning as a comprehensive integration layer, providing businesses with single-point access to over 5,000 banks across 28 countries and multiple currencies, including stablecoins, through one unified API.

How do you expect RTP interoperability to advance and further impact merchants’ expansion efforts?

I see RTP interoperability as a real unlock for global expansion. Traditionally, cross-border expansion required local bank accounts, acquiring licences, negotiating with local PSPs, and building bespoke integrations, often a months-long, resource-heavy process. With the convergence of RTP systems, stablecoin-based rails, and unified access platforms, businesses can increasingly bypass these steps. A single integration can provide access to local payment methods across multiple countries, allowing merchants to offer native, RTP options to customers from day one. For merchants, this means faster go-to-market, instant settlement of funds in local or digital currencies, and reduced operational complexity. Instead of adapting to the nuances of each market’s infrastructure, businesses can tap into a harmonised payment layer, abstracting the complexity while maintaining compliance. In short, I believe launching a new market will feel a lot more like launching a new website.

This editorial piece was first published in The Paypers' Account-to-Account Payments Report 2025, which features insights into global trends, key players, partnerships, and the next phase of the A2A evolution. Access the full report to understand where the A2A payments ecosystem stands today and what’s next.

About the author

Ferdinand Dabitz is the Co-Founder and CEO of Ivy, the default global, default instant payments platform. Ferdinand grew up in Berlin and previously worked with McKinsey & Company and the Max-Planck Institute for Innovation and Competition. As Co-Founder and CEO, Ferdinand brings an innovative perspective to the payments industry, having orchestrated Ivy into a leading platform aggregating global instant bank payment rails.

 

About Ivy

Ivy is a default global, default instant payments platform with the mission to unlock seamless payment and banking experiences for the digital-first economy. By leveraging Open Banking and stablecoin infrastructure, Ivy enables global businesses to accept and send real-time bank transactions and open real-time-ready, borderless accounts. Currently, over 60 regions worldwide are rolling out instant bank payment rails. Ivy makes these local bank payment schemes interoperable, offering a single point of access for businesses. With offices in Berlin, Munich, London, and Helsinki, Ivy is powering global businesses and has secured USD 30 million in funding from renowned fintech investors like Peter Thiel’s Valar Ventures and Creandum.