Vanbex, NetCents Partner to Bring Blockchain to Canadian Banks
Vancouver, B.C. — The Vanbex Group and NetCents Technology Inc. (CSE: NC) are pleased to announce a strategic partnership between the professional services firm and the online payment service provider. The partnership will work together to provide a streamlined, full end-to-end innovative financial services platform.
Disclaimer: This is a press release. Bitcoinist is not responsible for the products and/or services of these firms.
The union allows both companies to utilize each other’s strengths in order to develop the next generation of financial transactions by utilizing the emerging technology, the blockchain. Blockchain technology has the potential to replace the over 30 trillion financial transactions per year currently processed by the Automated Clearing House (ACH) and the Society for Worldwide Interbank Financial Telecommunication (SWIFT).
NetCents will be integrating Vanbex Group’s Genisys product, a blockchain-integrated payment platform that offers a cost-effective, turn-key transaction messaging system for cross-border payments, to work in conjunction with the SWIFT and Clearing House Interbank Payments System (CHIPS) protocols.
“We believe working with an internationally recognized and accepted brand like NetCents will help put Genisys and NetCents at the forefront of global payments,” said Kevin Hobbs, CEO at Vanbex Group.
“By Integrating Genisys with NetCents we will now be able to begin to introduce next generation processing for banking financial transactions by offering a solution that will update the current, antiquated banking transfer platform,” said Clayton Moore, CEO and founder at NetCents Technology Inc.
Moore added, “By utilizing Vanbex’s industry-leading blockchain-based product we will begin introducing these processing opportunities to the financial world, starting with financial institutions in Canada.”
NetCents works with financial partners, mobile operators and exchanges to streamline the user experience of transacting online. NetCents’ technology is integrated into the ACH, which ensures consumers’ security and privacy.
The firm recently commenced beta testing on its Payment Gateway platform, an ecommerce application that processes and authorizes secure credit card transactions in both digital and traditional fiat currency, as well as PayPal and Apple Pay for merchants.
NetCents is an electronic payments technology company offering consumers and merchants online services for managing electronic payments by a variety of payments methods through its processing platform. The company works with its financial partners, mobile operators, exchanges, etc. to streamline the process and user experience of transacting online. The NetCents platform is integrated into the Automated Clearing House through the Royal Bank of Canada. This service is available for deposits from 194 Countries around the world, providing you with the freedom to choose to Pay. Your Way.
Genisys is a blockchain-integrated payment system that allows its users to send financial messages globally to any banking partner using unique blockchain messages, user created messages for added security as well as existing legacy financial messages like the International Organization for Standardization and SWIFT. It replaces the existing financial infrastructure and replaces it with a more secure, efficient, and cost-effective solution.
Communications Lead, Vanbex Group
Images courtesy of Wikimedia Commons, NetCents