Pace FS taps SaaScada to power European payment rollout

By Milan Rojan

Newly licensed electronic money institution (EMI) Pace FS has selected SaaScada’s cloud-native core banking platform to support the rollout of customer-focused payment services across Europe.

Headquartered in Latvia, Pace FS has obtained an electronic money institution licence from the Bank of Latvia, enabling it to provide services throughout the European Economic Area (EEA). The company has aimed to modernise payment infrastructure by offering faster and more flexible financial services for merchants and consumers.

Rolands Legzdiņš, Chairman of the Board at Pace FS, said, “Regulations, such as the EU Instant Payments Regulation and SEPA Instant Payments, require euro-denominated transfers to be processed within seconds, round the clock. We need a reliable core that will deliver on these requirements and can scale with our business. SaaScada gives us that.”

Under the agreement, SaaScada has been selected to provide the core banking engine underpinning Pace FS’s operations. The platform will support the issuance of electronic money, domestic and cross-border payments, card issuance and embedded finance capabilities.

The deployment has been designed to provide Pace FS with real-time access to transaction data through SaaScada’s event-driven architecture. The platform has also enabled API-based connectivity with anti-money laundering (AML), sanctions screening and fraud prevention solutions, helping the firm meet regulatory and operational requirements.

Nelson Wootton, Chief Executive Officer and Co-Founder of SaaScada, said, “A new generation of fintechs is moving beyond simple payment processing to deliver more intelligent, customer-centric financial experiences. Pace FS has a strong vision for how modern payment services should work, and our cloud-native core gives them the tools to bring that vision to market quickly.” 

 According to the companies, the implementation has positioned Pace FS to offer instant payments, accelerate settlement processes and launch new products more quickly through an API-first approach. The platform has also been built to support rising transaction volumes as the business expands across European markets while maintaining compliance and security standards.

The partnership has highlighted continued investment in cloud-native banking infrastructure as payment providers seek to meet growing demand for real-time, digital-first financial services across Europe.