Novatti makes commercially astute blockchain move

Novatti makes commercially astute blockchain move

Online payments processor Novatti Group (ASX: NOV) has made a commercially-astute move into blockchain payments by integrating its proprietary payments platform with The Stellar Network, an open-source protocol for exchanging money used via shared servers and “forming a global value exchange network”.

In essence, Stellar is a blockchain-payment and asset transfer platform connecting banks, payment systems and customers with a network of low-cost financial services providers, including financial institutions, payment aggregators and technical specialists.

The prime feature which attracts users is the commonly-shared commitment to support a new and inclusive global infrastructure for payments. Stellar is growing rapidly and sports a proprietary “native asset” digital currency called the Lumen.

Its stated core mission is to “move money across borders quickly, reliably and for fractions of a penny.”

Meanwhile, Novatti is an emerging payment services provider, with current service features including consumer digital wallets, branchless banking, mobile money, bill payments and remittance services, done through several core products such as Flexepin, Flexewallet and recently launched Chinapayments.com.

 

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