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Fintech startup will use blockchain to boost payment processes

The financial platform has partnered with Oracle to use the Oracle Blockchain platform to improve payment processes and eliminate intermediaries. The association was announced in a press release published on February 12. is a fintech startup based in Europe that offers a payment platform for banks and financial institutions. In 2015, the company was recognized as the best fintech start-up for the Central European Startups Awards, while in 2018 it overtook other major players in the industry in terms of application programming interface (API) endpoints.

By integrating the Oracle platform, aims to boost payment processes, making them also more profitable and safer. The company is trying to replace intermediary financial institutions with the new system, which would supposedly reduce the time needed for cross-border transactions in a matter of seconds and eliminate related transaction fees.

Frank Xiong, vice president of Oracle’s Blockchain Development Platform said, “the blockchain could change the future of digital payment processing, improving the user experience, security, speed and cost of each payment dramatically.”

Cointelegraph reported today that Oracle is expanding the features of its enterpriseclass Oracle Blockchain Platform, with the intention of simplifying the integration process of existing business and IT systems, as well as accelerating the development and implementation of new business applications. chain of blocks.

In October 2018, Oracle launched a suite of software as a service (SaaS) applications based on block chains and based on its Oracle Blockchain Cloud Service, supposedly designed to improve traceability and transparency in all supply chains. Reportedly, the product allows users to track the authenticity of product components and temperature control, as well as reduce paper waste.

Also published on Medium.

Published inStartups

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