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- The driving force behind Bitcoin is Blockchain Technology. And it is now finally making its way into the mainstream financial markets.
- Allied Wallet, a payment solutions provider from China, has now made public its plans to implement a blockchain-based payments platform by the end of 2020.
- The company hopes to benefit from the safer, streamlined, and lower cost of the blockchain-based method.
Per IBS intelligence, Allied Wallet, a payment solutions provider from China, has made public its plans to implement a blockchain-based payments platform by the end of 2020.
Allied Wallet: The Future of the Payments
The founder of Allied Payments Andy Khawaja stated,
“This is the future of payments. It will allow us to provide even better payment processing solutions for business owners and consumers. This is innovation and we want to continue to lead our industry.”
He further expressed his excitement to implement blockchain, providing its benefits to his users.
How are Blockchain payments beneficial for common users?
Blockchain payments are real-time virtual payments. These payments will upgrade the time from a day to seconds. It can be especially helpful in cross-border payments which can take several days.
Hence, it is true that this technology not only allows companies to become more agile and responsive; but lowers the cost with fewer transfer fees and typical costs of trade associated with payment processing.
The Use Of Smart Contracts:
The company mentioned that these programs are self-executing and automatically execute payments when certain predefined conditions are met. Thus they speed up the automatic payments used by most of e-commerce clients.
Allied Payments China is the Asia based subsidy of UK based Allied Wallet and was established in 2002.
Therefore, its primary business will be to provide online credit card processing/ payment processing, multi-currency merchant services.
And most importantly, digital eWallet solutions, software development, and PCI Level 1 payment gateway.
