Nuspay, the pioneer in the next-gen Virtual Account Payment Platform is set to unveil its avant-garde X-Border platform- with the world’s fastest Cross Border fund transfer protocol.
Nuspay has established itself as a FinTech company and now it aims to disrupt the contemporary remittance platforms with the most advanced payment platform. It expands upon the shortcomings of the concurrent platforms and solves them with ease. X-Border is not only fast when it comes to remitting funds, it also adds a staggering amount of security features that transcend the current competition of conventional money transferring protocols.
Nuspay X-Border Platform is developed on top of some of the most secured platforms. Eliminating intermediaries to prioritize speed, X-Borders gateway credits cross border beneficiaries within seconds. The application also makes sure that the remittance encrypted data is unchanged and immured from the payment processing to disbursement to beneficiaries.
In order to preserve the transaction’s data integrity, Sensitive personal data is superseded by a temporary payment token for a very brief period & bound for some specific parameters such as the volume of the transaction, the bank account detail of sender & beneficiary, the location of the transaction, and other related information.
“Our X-Border Platform could be easily integrated with the other existing remitting system like RemCos, Banks/FIs and Authorized Agents with its state of the art of end to end tracking mechanism. This end to end tracking mechanism ensures reduced inquiry cost maintaining transparency as there are no hidden charges. The user is also notified instantly when the beneficiary is paid. X-Border makes sure that the user receives all the required information before initiating the transaction. Deep Tech integration will make it easy to find out transaction anomalies”, stated by Md. Abul Mansur, Managing Director, Nuspay International Inc.
The challenges with contemporary cross-border solutions involve several components, which include outrageous transparent processing costs, 24/7 delivery, credit charges, preliminary exchange/FX rates, fees imposed in the payment gateway and ultimately the liquidity cost of advanced financing. Marcos Chow, Founder MBA group Indonesia said, “Difficulties regarding the speed of cross border transactions are currently met with intolerable holdoff times while sending money from one end to the other. The inability to settle conflicts and glitches in real-time is another shortcoming of the current payment platforms. Nuspay X-Border purposefully aims to solve all of these.”
Apart from the aforementioned problems of the contemporary solution, the tech sector is ever-evolving and it has created the need for improved cross-border and local payment protocols. Meaning, X-Border is not only suitable for cross-border transactions, it is also suitable for localized closed-looped transactions. Comprehensive Deep Tech, a subset of Artificial Intelligence integration will also be an integral part of X-Border, including features like face-recognition, patent filed Virtual Account payment system, proprietary dynamic QR code generation & dual-system card and server-based application. Nuspay has the expertise to operate the future of the remittance platform and the required experience to apply on it. TB Raditya Indrajaya Chairman of Chamber of Commerce and Industry West Java province said, “In terms of Innovations at Nuspay, I believe that the cross-border transactions shouldn’t just be speedy, trackable and accessible, but they should also be cost effective, safe, secure and trackable with all the compliances & regulations in place”. So, whilst Nuspay is delivering an innovative and purposeful response to the current remitting challenges, Nuspay’s range of investments is easing the continual compliance burden. With the help of the community and user base, Nuspay is aiming to protect, shape and enhance our financial future.
X-Border is inclusive of the current mediums with a collaborative perspective. With the integration of X-Border, the cost spent on investigations is also reduced. Artificial intelligence will eradicate the need for front office costs that are spent on customer inquiries and complaints. The partnering platforms will also be leveraging it’s best-in-class competencies for regulating reference data.
Md. Abul Mansur, Managing Director, Nuspay International Inc. also added, “Nuspay already has completed the initiation phase & now it is open to forging alliances with banks & other financial institutions. Integrating X-Border with the RemCos, banks and other financing institutions will offer the institution to provide the fastest and the most transparent services. It will also inherit the current compliances of the system and can be quickly implemented in the existing infrastructures. In the initiation phase, we have demonstrated the product with several banks, FIs, exchanges & remittance providers, and they are keen to launch the product, we are planning to launch it once we get certified by external auditors as soon as possible.”
Nuspay X-Border is expected to take on billions of cross-border payments after the launch, as remittance flow is projected to be approximately $470 billion in 2021. Hundreds of global banks in innumerable countries are already eager to sign up. As X-Border is built on it’s existing ecosystem, the enthusiasm of the financial institutions is apparent. Nuspay has timelessly explored and evolved over the years and today it is ready to take on the future of cross-border payments with X-Border.
Media Contact
Company Name: Nuspay International Incorporated
Contact Person: Chantell Wallace
Email: Send Email
City: New York
State: NY
Country: United States
Website: http://nuspay.com/
