Payments: RBS Targets U.S. for e-Payments Business

Bank Technology News,  July, 2007  by John Adams

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Royal Bank of Scotland has just finished piloting an electronic payments service in the U.S. that will facilitate payments from local and foreign customers. It's goal is nothing less than to become the dominant payments player on both sides of the Atlantic, and it's got a good start considering it already possesses the largest e-payments operation in Europe-with a 46 percent market share in the U.K. alone.

The new online payments service-which RBS is currently making available to its entire client base-will offer U.S. businesses the chance to process credit card payments from U.S. cardholders, as well as enable multi-currency transactions for non-U.S. cardholders.

By using the service, firms' online customers can pay for their purchases in more than 100 currencies using a credit card or other local payment types. For example, a business operating in the ...