Tulsa, Okla., October 4, 2019 – Global Holdings LLC, a leading payment processor, announced today that it had processed its first live Real Time Payment (RTP) transaction. The first new U.S. payment system in over 40 years, RTP technology substantially simplifies the payment processes, solving long-standing issues in speed, data and communications.
As part of Global’s forward-looking payments strategy, this transaction was a beta test designed to help the company better understand the speed and the functionality of this breakthrough technology in action. Moving forward, Global will begin deploying RTP across the company’s payment platforms in a manner that helps consumers stay on track with their debt-settlement plans while maintaining full oversight and control of their money.
“The Real Time Payment system is a huge leap forward for payment processing. It dramatically simplifies processes from transaction initiation through to reconciliation, and we believe it will pay huge dividends for consumers, debt-settlement providers and creditors involved in payment plans associated with debt settlement,” said Mike Riggin, Global’s Chief Risk & Compliance Officer. “This may seem like technical inside baseball, but the adoption of this new system will really help ensure even more swift and certain execution of debt-settlement plans, which is in everyone’s best interest.”
Unlike the ACH system, which was first developed in the late 1970s, RTP offers immediate funds availability, settlement finality, instant confirmation, integrated information flows, and it takes only seconds to process. This enables consumers and businesses to send and receive funds in real time. RTP is a direct bank-to-bank transaction with no outside involvement. This limits risk and protects consumers.
About Global Holdings LLC
Global Holdings LLC was founded in 2003 by a team of payment-processing industry veterans and is now the leading payment processor for the consumer debt-relief market. Leveraging a robust technology platform and artificial intelligence, Global is setting the industry standard for today and tomorrow. For more information visit www.ghllc.com or follow us on LinkedIn.