nanopay

FASTER PAYMENTS

For those that care about the Federal Reserve's 'Faster Payment Initiative', you will want to pay attention to this one.  We are picking nanopay.  So did the Federal Reserve by ranking nanopay in their Top 3.  Here is a company summary....

nanopay is a Fintech company based in Toronto that provides a unique payment platform that powers multi-currency payment solutions with instantaneous settlement. nanopay solutions include cross-border payment networks, business-to-business (B2B) payments and digital cash. nanopay is venture funded with strategic investments from international partners including the Merchant Banking Division of Goldman Sachs. Partnerships include Ingenico Group and Global Payments.

As a contributing member and proposer to help the United States Federal Reserve’s Task Force assess and develop alternative approaches to implement a faster and more secure payment system in the United States by 2020, nanopay’s proposal received extremely impressive marks, scoring Effective or Very Effective on 33 of the 36 extensive evaluation criteria.

nanopay’s technology improves methods for speed, cost, security, scalability, payer authorization, fraud prevention, ease of implementation and data encryption. Its technology represents an innovative way to deliver faster payments for B2B, P2P, B2P and P2B use cases as well as clearing and settlement between banks. A key benefit of nanopay’s platform is the ease with which it can integrate with existing legacy systems prevalent throughout U.S. banks and credit unions without changes to the FI’s core or creating a costly payments hub. Accessed through open API’s, nanopay enables banks to deliver modern solutions without significant integration costs across a wide variety of applications. nanopay’s platform includes ISO 20022 messaging, which offers banking partners next generation payments without a significant investment.