Pace FS picks SaaScada for real-time European payments after Latvia EMI licence

Latvia-based Pace FS has chosen SaaScada’s cloud-native core banking platform to run a new payments stack across the European Economic Area (EEA). For PSPs and high-risk merchants, the interesting bit is simple: this is infrastructure built around instant payments, fast settlement cycles, and the compliance plumbing that has to sit underneath both.

1. Pace FS is a newly licensed electronic money institution (EMI) headquartered in Latvia, and it has obtained a licence from the Bank of Latvia, which allows it to operate across the EEA. That matters because the company is not treating this as a local play; it is building payment services for cross-border use from day one.
2. SaaScada will provide the core engine for Pace FS’s payment services. The setup will let Pace FS issue electronic money, facilitate domestic and cross-border payments, issue cards, and support embedded finance, which is the part where payments stop being a product and start becoming infrastructure.
3. The platform is event-driven, so Pace FS gets immediate access to transaction data, with API integration into AML, sanctions screening, and fraud prevention tools. In practice, that means the core is designed to talk to the compliance stack instead of sitting next to it and hoping for the best.
4. 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, around the clock. His point is straightforward: if you are building for Europe now, your core needs to handle instant rails and scale with transaction volume, not just post transactions at end of day.
5. SaaScada CEO and Co-Founder Nelson Wootton said Pace FS is aiming beyond simple payment processing toward more customer-centric financial experiences. Translation for operators: the market is moving toward faster launch cycles, tighter compliance integration, and cores that can support more than one payment use case without a rebuild every quarter.

For PSPs, acquiring partners, and banks looking at high-risk corridors, the useful signal here is the combination of Latvian EMI status, EEA reach, and a core built around instant settlement and compliance integrations. That is the basic architecture you need if you want to offer modern payment services without bolting on every function separately later.