Connected Infrastructure Key to Global Payments Evolution
The next big battle in global payments may not be about building new infrastructure, but rather connecting existing ones. According to Lux Thiagarajah, Chief Commercial Officer at OpenPayd, the challenge has shifted from creating new rails to making them work together seamlessly.
Thiagarajah, who brings a market perspective shaped by experiences in foreign exchange trading and macro investing, notes that the global payments system is no longer purely bank-led. Instead, it's an increasingly connected ecosystem of traditional banking infrastructure, domestic instant payment schemes, payment providers, and blockchain networks.
The biggest challenge businesses face today is not moving money itself, but everything surrounding it. They contend with fragmented payment networks, multiple banking relationships, inconsistent regulatory requirements, limited visibility over payment status, and inefficient liquidity management.