A Real-Time Financial Consultancy
RTpay.org acts as a non-profit advisory service for international organizations, NGOs and charities, primarily geared to lowering costs and enhancing value in all transactions. Its experience in foreign exchange flows, transaction processing and all aspects of risk reduction, including compliance requirements, is based on the many years of professional work of the RTpay consultants.
Current and recent assignments concentrate on:
RTpay does not hold any client funds or act in the transaction flow at any stage. It solely assists clients on the optimal management of their own funds. It may introduce suitable financial service providers as part of its advice.
The current concentration relates to the potential threat for developing countries from stablecoins and cryptocurrencies acting to reduce the competitiveness of their fiat currencies – and the related difficulties for money supply, tax collection and danger for commercial banks from loss of deposits.
International remittances and other sub-$1,000 transactions may be managed – at close to zero cost – as part of the proposal we work towards. Similarly, as CBDCs are developed – particularly for LMIC central banks – we look to assist in the structure of the international clearing network and in addressing the tax collection and reporting areas.
Contact Christopher Williams – cwilliams@rtpay.org – for further details and to discuss how we may assist.
Suggestions from RTpay, a non-profit consultancy specializing in foreign exchange and transaction processing
The problem
Our proposal addresses these matters as sufficiently urgent as to attract special attention, particularly in regard to the final point. We believe there is a temporary solution which can be implemented very quickly, if a reasonable number of governments wish to do so. If we are to achieve that, it will require active involvement from the BIS, probably alongside the IMF, the World Bank and various departments of the United Nations. It could also be helped by regional associations of banks, mobile payment businesses and technology experts. Click for more….
Here are a couple of interactive examples that help to illustrate the way in which savings are achieved in remittances.
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RTpay offers a free service to all non-profit organizations to evaluate the costs they incur in delivering support.
In particular, when funds are intended for foreign destinations, there can be hidden extra costs incurred in the foreign exchange rates used; an audit of past transactions can compare what would have been the best rates achievable.
Transaction processing fees for domestic transfers can also be far more expensive than necessary; this is a highly competitive market and one where RTpay can advise on finding the best, most cost-effective service.
Are there uses of mobile wallets, tokens, gift cards and cash deposit centers that can cut costs and increase donations? How to stay current with all aspects of fund raising is another function of the RTpay process audit.
In general, the collection of funds in domestic currencies and then working with others to achieve the best available currency exchange – in a single conversion – can achieve a far higher amount of foreign currency. Managing the delivery of the separate amounts to recipients requires expert knowledge of local banking and agent services; something RTpay can assist in selecting.
RTpay does not hold any client funds or act in the transaction flow at any stage. It solely assists clients on the optimal management of their own funds. It may introduce suitable financial service providers as part of its advice.
Please contact RTpay at info@rtpay.org to arrange to speak to one of our professional consultants.
Many of the most needy refugees and IDPs are escaping from violent areas of conflict, often where the carrying of passports or ID papers could be extremely risky. This means they can arrive at camps with little way of identifying themselves; and given the fact that the camps are often limited to supporting particular refugees from one or more countries, those escaping from other countries will attempt to mislead the authorities as to their true origin.
Organizations such as the UNHCR have to make difficult decisions as to the applicants and whether they can remain in the camps. These decisions are always difficult; just because someone is an economic migrant, does that mean they are less needy?
What is an important additional factor is how to maker that choice only once; it should not be down to a lottery at each camp or government facility as to whether one person gets through the test.
The development of biometric identification solutions has brought about ways in which we can have a secure, non-paper ID that can be read by appropriate authorities as to the status of the immigrant. In particular, the iris recognition system used by UNHCR in Jordan is capable of being extended onto many other countries, both as an overall ID but also as a way to secure payments.
Paying benefits, as well as remittances, can either be done via cards or, as generally preferred by the most needy, through iris-recognition at ATMs and POS devices at supermarkets. RTpay works with the best service providers to help develop this system in as many places as possible.
RTpay does not hold any client funds or act in the transaction flow at any stage. It solely assists clients on the optimal management of their own funds. It may introduce suitable financial service providers as part of its advice.
Please contact RTpay at info@rtpay.org to arrange to speak to one of our professional consultants.
A key aspect of RTpay is for EDUCATION in Turkey, Jordan and Greece, where short-term development of usable skills, social training and linguistic assistance can be provided to selected refugees.
Whether those jobs are eventually in the EU, mainly Germany, or in their homeland or where they are being trained, the necessary early learning can best be performed ahead of entry. Understanding and acknowledgment of the social structure of their intended destination is a prerequisite to gaining acceptance in the new environment.
It is important that the three component strands of education services are fully integrated. The time available to refugees in the educational establishments will be limited to approximately 6 months. A fully integrated suite of learning and assurance pathways will provide the most efficient and effective approach to make use of this timeframe.
The three education strands comprise:
The 70:20:10 approach is increasingly being used for adult learning in organizations around the world. It forms the basis of most apprenticeship schemes – providing ‘real life’ experiential learning opportunities, learning from coaching, mentoring and through extracting lessons from the network of others. It also requires access to basic structured training to help get started.
The 70:20:10 framework requires designing for performance rather than for learning. As such, much of the learning will need to be practical and performance-focused. Observational assessment will be a critical part of the process.
For more information on RTpay’s adoption of the 70:20:10 pedagogy, see RTpay Education Policy 702010
RTpay works with several organizations – at government and major corporation level – on a variety of solutions using Blockchain technology. While much of this is highly confidential, there are some areas where new partners can be brought in to increase the scope of current work.
The inter-relationship of international currency transactions – and the increasing risks experienced in many clearing operations – is of particular interest. The creation of digital currencies for both investment and trade settlement is a primary part of RTpay’s involvement in this technological area.
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