nanoPay to Showcase New Services in Cross-Border and Business-to-Business Payments at FinovateEurope
On stage at FinovateEurope, nanoPay previews new services to enable banks, payment service providers and businesses to securely store and transfer digital value instantly.
LONDON, U.K. / TORONTO, ON. – February 7, 2017 – nanoPay Corporation, a secure, real-time payments platform provider, today unveils the first look at its cross-border payments platform and new business-to-business (B2B) payments solution, which will enable banks and businesses to make digital payments between parties instantly, securely and without intermediaries. nanoPay is working to transform existing cross-border and B2B solutions, which are slow and dependent on multiple intermediaries while providing a simple and secure solution.
Cross-border trade has grown rapidly to keep up with companies sourcing goods and services globally. The current interbank payments process for handling global payments is slow, expensive, non-transparent, highly manual, dependent on multiple intermediaries and ultimately provides a poor customer experience. nanoPay’s cross-border platform enables banks to address these pain points and provides user friendly, instantaneous, low-cost cross-border payments with higher Straight Through Processing (STP) based on ISO 20022. Banks can provide customers with full transparency, creating compelling value propositions to re-capture the C2C market share and protect their dominant B2B market share.
The B2B space continues to see payments primarily done by cheque, wire or credit card – all of which are processes that don’t allow for complete visibility. nanoPay’s B2B portal will enable businesses to pay each other by sending a simple request for payment and from that moment forward, all parties involved will have full visibility of the transaction. This means visibility into when the invoice is received, when a payment is being scheduled and when the payment is completed. Using the B2B portal enables businesses to make secure and trusted payments between parties who may be unfamiliar with each other, without a letter of credit and without sharing sensitive banking information. It pulls invoice data into the underlying payment and formats it into ISO 20022 to allow Straight Through Processing, reducing manual bank reconciliations.
“We’re paving the way towards a future of instantaneous fund transfers with ISO data for straight through processing,” said Laurence Cooke, CEO and Founder of nanoPay. “Both banks and businesses simply need to be able to make secure, automated and trusted payments between parties, both our cross-border and B2B solutions enable them to do just that. We successfully deployed MintChip as a digital cash platform in Canada last June and we’re now focused on expanding the platform beyond digital cash to global applications.” Laurence Cooke will be on stage at FinovateEurope to demonstrate its new offerings on February 8th at 11:40AM GMT.
Founded in 2012, nanoPay is a Fintech company based in Toronto that provides an innovative platform that securely stores and transfers any form of digital asset between users, instantly and without intermediaries. nanoPay acquired the MintChip technology and patents from the Royal Canadian Mint in 2015. Our open and flexible APIs enable banks, payment service providers and businesses to use the platform for low-cost, real-time payment applications. For more information about nanoPay, visit http://www.nanopay.net/.
Uproar PR for nanoPay
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