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Merchant Payment Platforms Now Seeing Cryptocurrency as Cash

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New merchant processing and point of sale platforms have been introduced into the market at a rapid rate over the last few years. A recent industry report said: “Money and the idea of its exchange through payments have evolved a lot from the time of its inception… Over the last decade or so, payment technologies have grown at a dizzying pace… Payments are now evolving at a rapid pace with new providers, new platforms, and new payment tools launching on a near daily basis. This shift precipitates a need for retailers to adapt toward fast, simple and secure mobile payments… It’s predicted that by 2025, 75% of all transactions will be made without cash.”  Cryptocurrency is one of those new methods. The same report added: “A cryptocurrency-based global payment solution would… work very differently from credit cards and other online transfers. Instead of the payment being authorized by the owner and then taken from the account by the recipient, the owner transfers the coins directly to the recipient – a “push” model, rather than an “authorize and pull” model. Cryptocurrency-based global payment solutions offer the possibility of vastly improving the speed and security of international payments while reducing transaction costs… To make the payment, of course, the owner must have enough coins in the wallet. Active Companies in the industry include NetCents Technology Inc. (CSE:NC) (OTC:NTTCF), Fiserv, Inc. (NASDAQ:FISV), PayPal Holdings, Inc. (NASDAQ: PYPL), Pareteum Corporation (NASDAQ: TEUM), Square, Inc. (NYSE: SQ).

Cryptocurrency payments work in much the same way as cash. The owner keeps their coins in a secure digital wallet to which only he/she has the “key” – a digital signature that only the owner knows. The wallet can receive payments without being opened, but to make a payment the owner must open the wallet with the key. To make things extra safe, some wallets have multiple keys: for example, a wallet might have three digital signatures, one held by the owner, a second held by a trusted third party and a third in offline (“cold”) storage. Making a B2B payment from one of these “multisig” wallets requires two or more keys, not just one. This is not unlike business checks that must be countersigned to be valid for payment.

NetCents Technology Inc. (CSE:NC) (OTCPK:NTTCF) (Frankfurt:26N) BREAKING NEWS:  NetCents Technology s pleased to announce that it has completed its integration into the NetCents Merchant Gateway and has begun processing with Surge365 LLC (“Surge365”). NetCents will also be entering into a referral agreement with Surge365, following last month’s announcement.

With the integration of the NetCents Merchant Gateway into the Surge365 platform, Surge365 is able to accept and process international membership subscriptions and  transactions in cryptocurrency and will work towards offering cryptocurrency as a payout option for company residuals and bonuses, ranging between $1,000 to $1 million dollars.

Surge365 is a direct sales company that gives members access to hundreds of thousands of hotels, resorts, cruises, and all-inclusive resorts around the globe and offers their members huge discounts to sell and offer their network. Surge365 offers training and memberships for individuals to build their own home-based businesses by providing members all the tools required to act as an individual travel agency with custom branded sales portals.   Read this and more news for NetCents at:  https://www.financialnewsmedia.com/news-nc/   

Other recent developments in the tech industry include:

PayPal Holdings, Inc. (NASDAQ: PYPL) recently announced that it has joined Cambridge Blockchain, Inc’s Series A funding round. With this investment, the two companies will explore potential collaborations to leverage blockchain technology.

“Our service helps streamline digital identity compliance while giving customers control over their identity data,” said Matthew Commons, Cambridge Blockchain’s CEO. “We are honored by PayPal’s vote of confidence, and we look forward to their support and guidance.”

Square, Inc. (NYSE: SQ) recently announced a first-of-its-kind partnership with Levy Restaurants and the Washington Nationals. During the 2019 season, Caviar Pickup and the new Square Terminal will make it faster and easier for fans to order and pay for their favorite food and drink from their seat without missing a pitch.

Square has partnered with the Nationals to create a concession stand that offers the only skip-the-line, order-ahead experience in the ballpark, powered by Caviar Pickup. Fans who open the Caviar app from their seats will be able to order their concessions in advance – including beer and wine for fans 21 and over – and receive an alert when their food is ready to be picked up.

Fiserv, Inc. (NASDAQ: FISV) a leading global provider of financial services technology solutions, recently announced that one of the Mediterranean region’s most innovative banks, Hellenic Bank, is furthering its digital transformation strategy with the implementation of payments technology from Fiserv. The Dovetail Payments Platform from Fiserv will enable the bank to simplify its payments architecture, operate more efficiently and offer customers new and customized capabilities.

“Our diverse client base has a range of payment needs, and over time we have added a variety of payment systems to meet those needs,” said Phivos Leontiou, Chief Operating Officer, Hellenic Bank. “By moving to a centralized payments platform, we have been able to streamline our payments operations while offering the payment options customers expect. We’re also able to easily add capabilities, such as support for new real-time payment schemes.”

Pareteum Corporation (NASDAQ: TEUM) a rapidly growing global cloud software communications platform company with a mission to connect every person and every(thing)TM, recently announced it launched seven new customers into production during March 2019.   This brings to 15 the total number of customers deployed into commercial service during the three months to March 31st, 2019. The announcement caps a first quarter during which Pareteum grew its 36-month Contractual Revenue Backlog (36MCRB) of signed sales agreements to a new total of $938 million.

Strong growth in new sales transactions reflects the recent strategic acquisitions of Artilium and iPass. These acquisitions have deepened Pareteum’s capabilities and created a rich seam of cross- and up-sell opportunities with existing customers, as well as significantly expanding the overall addressable market.

DISCLAIMER: FN Media Group LLC (FNM), which owns and operates FinancialNewsMedia.com and MarketNewsUpdates.com, is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated in any manner with any company mentioned herein. FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNM’s market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult =a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. FNM is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed FNM has been compensated forty nine hundred dollars for news coverage of the current press releases issued by NetCents Technology Inc. by a non-affiliated third party. FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.

 

SOURCE FinancialNewsMedia.com

Fintech PR

Sleep interiors brand gets job offer from Peter Jones despite not securing investment in Dragons Den

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LONDON, March 29, 2024 /PRNewswire/ — Tonight on BBC1, REMY founder Abeer Iqbal, entered the Den, and despite intense grilling and no investment, left with a six-figure job offer from Peter Jones

Abeer’s pitch began with the Dragon’s keen to experience his sleep-enhancing furniture. When Steven and Peter laid on his hero  ‘The Pod’, a reinvention of the beanbag, and under REMY’s best-selling ‘The Lounger’ weighted blankets, the dragons closed their eyes and pretended to snore. Which was ironic, as despite being told he’d enter the Den around 5pm, Abeer actually went in at 9.30pm, after the dragons had been receiving pitches since early that day, which to Abeer’s own admission “wasn’t easy”. Deborah Meaden said, “This might have been a fatal mistake to put your dragons to sleep before we start the pitch” – recognising that it had been a long day.

After 10+ years working in tech, helping multi-million pound businesses grow their empire at software giants like Shopify, Abeer experienced burn-out, which led him to develop REMY. Despite Abeer telling the dragons that he left the high-pressure industry due to stress and anxiety Peter Jones still offered him a job back in the rat race with a six-figure sum (which he still hasn’t taken). 

After leaving the Den, Abeer admitted feeling the “most anxious ever” and that he “just wanted to get back to his wife for a hug”.  Abeer shared, “I didn’t sleep for days, replaying every moment in my mind. I wanted to forget it.” But it’s not all bad, as Abeer explains, “the anxiety I experienced from the Den gave me a lightbulb moment and led me to create our most popular product yet – The Hugger Pillow. I needed a hug, so I created one”. 

Abeer continues, “I returned the next day to collect my items from the studio. I bumped into a fresh-faced Peter and Toukar in the carpark, they both praised my experience, Peter once again offered me a job and Toukar asked me to call him when I start the next business.”

The global ‘sleep economy’ is booming, projected to reach a record high of $585 billion this year. But Abeer felt he was unable to communicate this, “If I could have my time again, I would focus on the industry of Rest and Sleep rather than the specific products we were trying to innovate. I don’t think I articulated to the Dragon’s the size of the business opportunity that there is with REMY. In terms of what’s next, we are moving towards becoming a household name in rest and sleep but offering products in multiple categories.”

The Dragon that seemed to understand Abeer’s passion for this industry was Sara Davies, saying “I actually fundamentally don’t agree with what I’ve heard here. What I see in front of me, yes he is great at the e-commerce side of things but he gave up a career in corporate because he was passionate about this area. And if there’s one thing I know about business it’s that you will succeed when you pursue the thing you are passionate about. I wouldn’t discourage you to give up. Keep doing it and good luck. I think you could sell anything”.

You can watch Abeer Iqbal on Dragons’ Den on BBC iPlayer.

remysleep.com / @WEAREREMY

Photo – https://mma.prnewswire.com/media/2374872/REMY_Sleep_1.jpg

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Bitrue Coin (BTR) Analyzes User Behavior and Announces Upcoming Developments to Enhance Utility

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SINGAPORE, March 29, 2024 /PRNewswire/ — Bitrue, a leading cryptocurrency exchange serving over 10 million users globally, announces a focus on user behavior analysis to further develop the utility of its native token, Bitrue Coin (BTR).

“Understanding how our users interact with BTR is crucial for its continued growth,” states Robert Quartly-Janeiro, Chief Strategy Officer of Bitrue. “This analysis will guide upcoming developments that enhance the value proposition of BTR within the Bitrue ecosystem.”

The announcement follows a recent surge in interest surrounding exchange tokens, and digital assets used to pay for services to unlock benefits within specific cryptocurrency exchanges. Currently, BTR offers a compelling range of benefits to Bitrue users, including:

  • Reduced Trading Fees: BTR holders enjoy lower trading fees on the Bitrue exchange, incentivizing active participation in the platform’s marketplace.
  • Governance Voting Rights: BTR grants voting rights on select new listings, allowing users to influence the direction of the Bitrue platform.
  • Staking Opportunities: BTR holders can stake their tokens to earn passive rewards, providing an additional avenue for generating income within the Bitrue ecosystem.
  • Exclusive Airdrop Potential: BTR holders may be eligible for airdrops of new tokens listed on the Bitrue exchange, offering the chance to discover promising crypto projects early.
  • VIP Investment Caps: BTR unlocks higher investment caps for certain cryptocurrencies on the Bitrue platform, catering to high-volume investors.

“BTR already plays a multifaceted role in the Bitrue experience,” Quarterly-Janeiro continues. “By strategically expanding its utility based on user behavior analysis, we aim to solidify BTR’s position within the exchange token market and elevate its value proposition for our user base.”

The specific developments based on user behavior analysis are not disclosed at this time. However, Bitrue assures its users of continued transparency and will share details in due course.

Media Contact: Lily Ho, [email protected]

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Affordability, customisation and convenience: Term plans from India become more attractive and accessible for NRIs

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Term insurance from India emerges as preferred choice for NRIs seeking affordability and convenience

DUBAI, UAE, March 29, 2024 /PRNewswire/ — Policybazaar, India’s leading online insurance marketplace, is witnessing a significant increase in non-resident Indians (NRIs) choosing term insurance from India via its platform. This surge is driven by the unparalleled ease, affordability and accessibility offered by the Indian insurance market. While several factors contribute to the growing interest in term insurance in India, affordability and convenience stand out as primary reasons. The demand among the 18-60 age group has seen an impressive 130% year-on-year growth, with India emerging as the preferred choice for NRIs.

The surge in demand from NRIs can be credited to several standout features and benefits. Term policies from India cost up to 30-50% less for NRIs residing in the UAE and Singapore. Additionally, policies with coverage of up to INR 5 crores can be easily obtained with tele-medical check-ups from India, eliminating the need for physical visits. Unlike some countries with restricted policy terms and coverage, Indian term plans offer coverage for longer duration, extending up to 99 years.

Sarbvir Singh, Joint Group CEO, Policybazaar, states, “We are witnessing exponential growth in term insurance purchases from NRIs, particularly from the Gulf nations and Singapore. Policybazaar has focused its efforts on expanding term insurance protection in both Indian and overseas markets. The unmatched benefits offered by India, including competitive pricing, larger covers, and streamlined processing through video/tele medicals, are significant contributors to this demand. It is heartening to see NRIs realizing the importance of securing their dependents’ future and choosing Indian term insurance policies.”

Term Insurance for a 35 year old male, non-smoker
Policy term – 30 years

Country

India

UAE

Cover Amount

INR 2 Cr / AED 881 K

AED 900 K

Max Cover Upto

99 years

80 years

Premium in AED

AED 977.8

AED 1,539

Premium in INR

INR 22,193.00

INR 34,892.00

Free Add-ons

Early Payout on Terminal Illness + Waiver of Premium

Price Benefit

36% cheaper in India

Source: Policybazaar.com

NRIs are also eligible for 18% GST exemption* upon purchasing term insurance plans from India, when paying via their NRE accounts. This attractive pricing, along with the availability of longer-term plans, has led to a rise in demand among NRIs, especially from Gulf nations, where 65% of term insurance buyers hail from, with the UAE alone contributing 35%.

Rhishabh Garg, Head of Term Insurance at Policybazaar, adds, “The evolution in the Indian term insurance industry is marked by innovative offerings designed to meet the distinct needs of consumers overseas. The consumer-centric features in term plans from India are increasingly appealing to NRIs, which include return of premium at no extra cost, early pay-outs for terminal illness, premium waivers for permanent disability, and immediate pay-out of up to INR 2 lakhs on claim intimation for immediate obituary expenses.”

The accessibility of these plans is further enhanced through seamless processing for NRIs, whose average annual income exceeds INR 35 lakhs. Insurers now also offer a sum assured of up to 5 crores, ensuring adequate coverage based on Human Life Value (HLV) calculations. NRIs can also leverage Policybazaar’s search and comparison engine to browse the best suitable plans as per their needs and preferences.

With a commitment to providing comprehensive coverage and protection, Policybazaar continues to redefine the landscape of term insurance for NRIs, empowering them to secure their loved one’s future with peace of mind. As NRIs continue to seek comprehensive coverage and value-driven solutions, Policybazaar remains dedicated to delivering innovative term insurance products and services tailored to their evolving needs.

*Tax benefits are subject to change in tax laws

About Policybazaar.com

Policybazaar.com is one of India’s largest insurance marketplace. It is the flagship platform of PB Fintech, which owns the fintech brand, Paisabazaar.com, and lending & insurance marketplace in the UAE region, Policybazaar.ae. Policybazaar.com started with the purpose to educate people on insurance products and with its offerings has addressed the large and highly underpenetrated online insurance markets.

Logo: https://mma.prnewswire.com/media/2375092/Policybazaar_Logo.jpg

 

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