Professional services firm Vanbex Group and online payment service provider NetCents Technology Inc. have announced a strategic partnership. Through this, the companies hope to provide a streamlined, end-to-end financial services platform in blockchains effort to replace over 30 trillion financial transactions per year currently processed by the Automated Clearing House and the Society for Worldwide Interbank Financial Telecommunication.
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 protocols.
Kevin Hobbs, CEO at Vanbex Group, remarked: “We believe working with an internationally recognized and accepted brand like NetCents will help put Genisys and NetCents at the forefront of global payments,”
CEO and founder at NetCents Technology Inc., Clayton Moore said: “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. 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’ technology is integrated into the ACH to provide consumer security and privacy. The company 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.