Minions and Money Transfer (RTP)

Real-time payments (RTP) exploded, reaching over 343 million transactions in the U.S. alone in 2024, with global projections showing continued rapid growth.

It’s clear: speed matters in finance. But should companies build their own RTP systems or rely on existing ones?

It’s no surprise that so many businesses want to create their own payment platforms. With the increasing demand for faster, more seamless transactions, competition in the fintech space is fiercer than ever.

Let’s break it down in Minion-style.

Minions and Money Transfers: The Chaos of Sending Bananas

Imagine a group of Minions trying to send bananas 🍌 to each other across the world.

1. Carry them in person – Like physically taking cash overseas. Simple, but risky. You could lose the bananas, get robbed, or face customs issues.

2. Use slow, expensive delivery services – Like traditional bank transfers (SWIFT). It takes days, and each bank along the way takes a small bite of the banana (fees!).

3. Open banana businesses in different countries – Instead of transferring money, they set up companies abroad to move profits legally. The method used by big corporations, it's complex but helps avoid high transfer fees.

4. Bartering Bananas – Instead of sending bananas, Minions trade them directly for other goods. This is like bartering or using in-kind transactions, there's no actual money moves, but value is exchanged.

5. Sending Banana IOUs – Minions promise each other bananas on paper instead of handing them over immediately. This is like checks or money orders, which take time to process.

6. Digital Banana Credits – Instead of physical bananas, Minions send digital banana points redeemable anywhere.

7. Banana Loans from a Friend – A Minion lends another Minion some bananas, expecting them back later with extra. This is like peer-to-peer lending platforms.

Sometimes the bananas arrive late, get stolen, or vanish entirely. The same thing happens with traditional banking transfers. RTP fixes this.

Why Real-Time Payments Matter

Now, imagine Gru builds an instant banana delivery system for Minions. Every banana gets delivered in seconds, 24/7, without getting lost.

That’s what RTP does for money:

1. Instant Transfers – No waiting 2-3 days for payments to clear.

2. Lower Costs – No excessive fees or hidden middlemen charges.

3. Secure & Reliable – Money moves directly without getting lost in the process.

4. Available 24/7 – No "banking hours" nonsense. Money moves anytime, anywhere.

My Attempt to Build an RTP System

At my previous work experience, they had multiple companies worldwide. So, I got the chance to research how to build an in-house RTP system, planning out:

• Transaction flow design – How funds would move instantly across regions.

• Regulatory compliance – Avoiding anti-money laundering (AML) risks and following government rules.

• Bank integrations – Connecting the system to existing financial networks.

• Fraud detection – Preventing scams and unauthorized transactions in real time.

• Liquidity management – Ensuring each region had enough funds to support real-time payouts.

Never had a chance to build it.

Looking back, maybe it was a blessing. RTP requires massive regulatory approvals and can be a compliance headache. hehehe

The Future: Crypto & Real-Time Payments by 2030

Here’s what I think where we’re headed:

1. Crypto + RTP: Imagine Minions sending bananas peer-to-peer without banks. Blockchain-based RTP (like stablecoins) could eliminate intermediaries while keeping payments instant.

2. Universal RTP Networks: Instead of country-specific systems, we’ll have global, real-time transfers for businesses and individuals.

3. AI-powered fraud protection: Smart detection systems will catch scams instantly before they happen.

4. Embedded finance & smart contracts: Payments that automate themselves when conditions are met (e.g., paying a supplier the second an order is fulfilled).

So, should Companies build their own RTP?

Yes – If they handle huge transaction volumes and can navigate compliance. I can help you build an MVP from scratch, tailoring it according to your needs in a short time, ensuring it’s easy to use, fast, and secure.

No – If they lack the resources to meet strict regulations and maintain security.

What do you think? Should more companies try to build their own RTP, or is it safer to rely on existing systems?

p.s. Why Minions? Because I just visited Minionland at USS last week and had so much fun! hahaha! Failed to win a Minion but we won a Dino from Jurassic World! 😂

Stay tuned for more updates!

Peggy.T

Chief Moonscaper