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April 13, 2020

US Faster Payments Council expands with Mindgate

Payments technology and transaction processing provider Mindgate Solutions has officially joined the US Faster Payments Council (FPC).

FPC is a membership organisation that seeks to facilitate faster payments in the US.

Digital payment solutions company Mindgate will be joining FPC as a voting member within the organisation’s Technology Providers segment.

Mindgate Solutions vice president of business development North America John Burgos said: “Mindgate’s purpose is to make mobile and RTP transactions simple and secure for everyone while helping traditional banks level the playing field with fintechs.

“We look forward to collaborating with the Faster Payments Council and its members, engaging with other industry leaders, and contributing toward the organization’s mission of advancing faster payments adoption in the US.”

Founded in 2008, Mindgate has presence in India, Middle East and ASEAN markets. It serves more than 50 global clients in 21 countries and processes over one billion real-time payments (RTP) transactions every year.

FPC executive director Kim Ford said: “The FPC is a unique organisation that tackles some of the toughest issues by encouraging honest dialogue and honouring differing views to get to the inclusive ideas and solutions that will impact the future of faster payments.

“We welcome Mindgate’s support, industry experience and expertise, and value their team’s commitment to enabling new faster payments opportunities, increased security, and greater access across the ecosystem.”

The FPC was created last year by the Federal Reserve. The Council’s framework is formulated by 27 members of the Governance Framework Formation team.

The FPC in May completed its first member election for its board of directors last year with executives of Walmart, NACHA, Visa, and Mastercard among the elected members.

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