Cash is king—that’s why it’s so expensive. Cash has both physical and electronic security costs, making it unprofitable for banks to serve the unbanked population. Moreover, using today’s rails, merchants continue to pay high interchange fees and governments collect taxes long after transactions have occurred.
nanoRail enables central banks to issue digital currency with real-time clearing and settlement systems and is built on a next-generation ledger technology that delivers extremely high levels of performance, security and resilience.
1. Low costs
4. Built-in security
nanoRail powers white-label digital cash solutions for central banks, financial institutions and merchants and offers unique benefits across a number of use cases.
- Send money to friends and family
- Send money requests and split bills
- Serve the unbanked population with low-cost solution
- Transactions can be phone-based, cloud-based or offline
Retail and Online
- In-store and online payments using mobile apps
- Support for Ingenico payment terminals
- Money moves directly from bank accounts, saving interchange costs
- Increased efficiency by removing manual processes
- Distribute government benefits
- Remit taxes as part of retail transactions
- Eliminates the need for manual tax remittance by merchants
- Enables full regulatory oversight and transparency
- Issue and redeem loyalty points
- Cash back programs or merchant-funded offers
- Platform can be open-loop or closed-loop
- Issue, store and instantly transfer digital cash