Pace FS Selects SaaScada to Meet Growing Demand for Real-time European Payments

WHY THIS MATTERS

The partnership between SaaScada and Pace FS highlights a critical infrastructure challenge for new electronic money institutions (EMIs) navigating the European Union’s tightening regulatory framework. With the absolute enforcement of the EU Instant Payments Regulation, all payment service providers handling euro transfers must possess the technical capacity to process cross-border transactions within seconds, twenty-four hours a day. For newly licensed challengers, building or adopting rigid legacy core engines makes meeting these stringent real-time requirements nearly impossible. By utilizing an event-driven, cloud-native transactional core, expanding EMIs can establish instantaneous data pipelines that handle high-velocity clearings. This strategy allows them to scale safely across the European Economic Area (EEA) without getting bogged down by slow, traditional batch processing networks or heavy infrastructure development overhead.

Cloud-native core banking provider, SaaScada, today announced that newly licensed electronic money institution (EMI), Pace FS, has selected its platform to power a new generation of customer-centric payment services across Europe. Using SaaScada’s core, Pace FS will deliver payment services designed to help merchants and customers move money faster.  

Headquartered in Latvia, Pace FS has obtained a license in Latvia from the Bank of Latvia, enabling it to operate across the European Economic Area (EEA). The company aims to bridge the gap between traditional payment infrastructure and the growing demand for modern financial services.  

SaaScada will provide the core engine underpinning Pace FS’s payment services, enabling the company to issue electronic money, facilitate domestic and cross-border payments, issues cards and enable embedded finance.   

SaaScada’s event-driven architecture will give Pace FS immediate access to transaction data, while enabling seamless API integration with AML, sanctions screening and fraud prevention solutions. 

Integrating SaaScada’s agile, data-driven core will allow Pace FS to:  

• Enable instant payments and fast settlement cycles  

• Launch new products more quickly through API-first architecture  

• Scale rapidly to support growing transaction volumes across Europe  

• Maintain the security and compliance standards required in regulated financial services  

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

Nelson Wootton, CEO and Co-Founder of SaaScada, added: “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.” 

FF NEWS TAKE

Pace FS is positioning itself to capture significant cross-border B2B and retail payment volumes across Europe by anchoring its infrastructure to SaaScada’s agile ledger engine. Headquartered in Latvia and backed by a license from the Bank of Latvia, the newly authorized EMI will leverage SaaScada’s event-driven architecture to break away from standard product-silo boundaries. This setup enables Pace FS to seamlessly stream live transaction data straight into third-party anti-money laundering (AML), sanction scanning, and automated fraud tools without bottlenecking transaction throughput speeds. Under the direction of Pace FS Chairman Rolands Legzdiņš and SaaScada CEO Nelson Wootton, the deployment of this API-first core foundation allows the fintech to rapidly design and roll out tailored embedded finance options, electronic money accounts, and multi-currency debit card programs to merchants across twenty-nine European jurisdictions.