Netpay partners with Israeli company to implement blockchain in its payment services | eBitcoinics.com

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Netpay partners with Israeli company to implement blockchain in its payment services

coincrispy 14 Feb, 2019 news.eBitcoinics.com Views: 402

Netpay International, a global online payment giant, has announced its partnership with BNC LedgerTech, an Israeli company, to integrate blockchain technology into its services. This was reported by the portal Finance Magnates in an exclusive publication on February 12, noting that this step makes Netpay the fourth company to use the services of BNC LedgerTech.

BNC LedgerTech is the blockchain firm behind the development of the digital banking solution called "Ubanker", although it also uses existing remittance infrastructures such as SWIFT and SEPA to serve as proof of funds and security guarantee, complying with the requirements established by the KYC / AML policies.

NetPay International will use this tool to cut operating costs since BNC LedgerTech charges a minimum fixed rate compared to other banks, which generally charge a percentage for the total amount transferred. So with this partnership, the payment company will begin to slowly migrate to the technology of distributed accounting (DLT).

As reported, Ubanker provides its services to B2B and B2C clients and complies with the regulations established by the Central Bank of the European Union. In addition, it has also developed its own chain of blocks in order to guarantee scalability in its service. It has also been reported a very important point in these times, which is that BNC LedgerTech has a license of electronic money institution in the region.

BNC LedgerTech was founded in 2018, and since then it has partnered with four companies in the FinTech sector. Its founder, Daniel Tsafir, also holds the position of CEO at the moment, jointly with Alon Elbaz, recognized personage in the industry of payments.

Recently a report revealed that 90 percent of experts in treasury and finance, in general, believe that blockchain technology will have a positive impact on the payment industry. We see the faith of the middle companies in that premise since the partnership between Netpay and BNC LedgerTech is evidence of this.

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