Tag: fintech

dtcpay, a Singapore-based startup, reportedly entered into a strategic partnership with the open-source blockchain platform, PlatON, and Chinese payment solution provider, Allinpay International to launch a new payment system.

The new payment system is tailored for both cryptocurrencies and traditional fiat currencies. The aim is to establish a privacy-protected digital payment infrastructure.

The collaboration will center around the creation of smart point of sale (POS) terminals, capable of supporting numerous digital currencies including Tether (USDT), Ethereum (ETH) and Bitcoin (BTC).

Previously known as the Digital Treasures Center, dtcpay has made a name for itself offering state-of-the-art digital currency payment services, enabling partners and merchants to accept payments in both traditional and digital currencies.

In addition to the partnership with PlatON and Allinpay International, dtcpay has also formed alliances with the verification platform Sumsub. This collaboration is intended to heighten the security and reliability of digital currency payments in key markets such as Singapore, Hong Kong, Dubai, the UK, and Europe.

In September, the company partnered with another Singapore-based firm, POS technology developer Jeripay, to integrate crypto within Jeripay’s 8000 terminal network.

Link to article – https://bitcoinworld.co.in/dtcpay-partners-with-platon-allinpay-to-launch-crypto-payment-network/

According to reports, dtcpay has partnered strategically with Allinpay International, a Chinese provider of payment solutions, and PlatON, an open-source blockchain platform. The goal is to establish a private digital payment system. The partnership’s primary goal is to create intelligent point-of-sale (POS) terminals that support a variety of virtual currencies, including Bitcoin (BTC), Ethereum (ETH), and Tether (USDT).

dtcpay, formerly the Digital Treasures Center, has established a reputation for providing cutting-edge digital currency payment systems that let partners and merchants take payments in both traditional and digital currencies.

In addition to working with PlatON and Allinpay International, dtcpay has partnered with the verification platform Sumsub. Enhancing the security and dependability of digital currency transactions in key areas like as Europe, the UK, Singapore, Hong Kong, and Dubai is the aim of this collaboration.

In September, the company partnered with another Singapore-based business, PoS technology developer Jeripay, to integrate cryptocurrencies into Jeripay’s 8000 terminal network.

The collaborations take place in the backdrop of Singapore’s evolving cryptocurrency regulations, which aim to improve consumer safety.

The Monetary Authority of Singapore (MAS), which also grants payment institution licenses to prominent cryptocurrency firms like Ripple and Coinbase, is looking into central bank digital currencies (CBDCs).

A significant component of this evolving environment is initiative Orchid, a retail CBDC research initiative that has completed its pilot phase. Through a series of pilot experiments, the project brings together government agencies and big banks with the goal of creating digital currencies for specific purposes.

Although retail CBDCs have not yet gained widespread acceptability, the project analysis indicates that digital currencies that are not valued in Singapore dollars are becoming more and more popular locally. To keep up with these developments, MAS is looking into the concept of programmable or automated execution of digital currencies appropriate for predefined use cases.

Link to article – https://industrywired.com/dtcpay-to-introduce-seamless-crypto-payment-network/

Singapore-based startup Dtcpay is set to launch a new payment system tailored for both cryptocurrencies and traditional fiat currencies. 

Dtcpay reportedly entered into a strategic partnership with the open-source blockchain platform, PlatON, and Chinese payment solution provider, Allinpay International. The aim is to establish a privacy-protected digital payment infrastructure.

The collaboration will center around the creation of smart point of sale (POS) terminals, capable of supporting numerous digital currencies including Tether (USDT), Ethereum (ETH) and Bitcoin (BTC).

Previously known as the Digital Treasures Center, Dtcpay has made a name for itself offering state-of-the-art digital currency payment services, enabling partners and merchants to accept payments in both traditional and digital currencies.

In addition to the partnership with PlatON and Allinpay International, Dtcpay has also formed alliances with the verification platform Sumsub. This collaboration is intended to heighten the security and reliability of digital currency payments in key markets such as Singapore, Hong Kong, Dubai, the UK, and Europe.

In September, the company partnered with another Singapore-based firm, PoS technology developer Jeripay, to integrate crypto within Jeripay’s 8000 terminal network.

The collaborations come against a backdrop of continually evolving crypto regulations aimed at offering enhanced consumer protection in Singapore. 

Major crypto firms such as Coinbase and Ripple are already licensed payment institutions by the Monetary Authority of Singapore (MAS), which is also exploring the potential of central bank digital currencies (CBDCs).

As a key component of this evolving landscape, Project Orchid, a retail CBDC research project, has completed its first phase. The project aims to create digital currencies for specific purposes, bringing together major banks and government agencies in a series of pilot trials. 

Even though retail CBDCs are yet to become mainstream, the project’s report indicates that digital currencies not denoted in Singaporean dollars are gaining local traction. 

To keep up with these developments, MAS is exploring the concept of programmable or automated execution of digital currencies tailored to predefined use cases.

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Link to article:

https://crypto.news/dtcpay-in-partnership-to-launch-crypto-payment-network/

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Link to article:

https://coinmarketcap.com/community/articles/6551230613022457ee1988e6/

Dtcpay will allow the exchange of fiat and cryptocurrency and also integrate new cryptocurrencies into its service. The platform provides point-of-sale and online checkout services.

In September, Dtcpay partnered with London-based Sumsub to offer Know Your Customer services for its digital wallet. It also agreed with Singapore POS provider Jeripay to provide crypto payment services on its 8,000-terminal network.

Founded in 2019 as Digital Treasures Center, Dtcpay has been a Mastercard Start Path program participant for crypto and blockchain startups since November 2022. It secured pre-seed funding from the Pontiac Land Group real estate conglomerate in June.

Electronic payment is quite common in Singapore. The country has been recognized for its progressive regulations on cryptocurrency, with a particular emphasis on consumer protection. In October, both Coinbase and Ripple obtained major payment institution licenses from the Monetary Authority of Singapore.

Additionally, Singapore is currently exploring the use of central bank digital currency, although the MAS has noted that it does not currently see an immediate need for a retail CBDC.

Link to this article-

https://www.upyo.com/en/article/singapores-dtcpay-allows-crypto-as-payment-method

Singapore-based digital payments platform dtcpay has partnered with PlatON, and Allinpay International to launch a digital currency payment system based on smart terminals.

The new system will support Tether (USDT), Ethereum (ETH), Bitcoin (BTC), and other mainstream cryptocurrencies with the aim to empower partners and merchants to accept payments in both fiat and digital currency,

dtcpay will facilitate the seamless and secure digital currency and fiat currency exchange services, while PlatON will leverage advanced privacy computing technology to construct the underlying technical infrastructure.

Meanwhile, Allinpay International will provide smart terminals and online aggregate payment interfaces for Web 3.0 payments.

“dtcpay’s collaboration with PlatON and Allinpay International is testament to our dedication in providing secure and efficient digital payment solutions.

We look forward to this partnership enabling us to deliver even more diverse and secure payment solutions.”

said Alice Liu, Co-founder and CEO at dtcpay.

“dtcpay’s unwavering commitment to regulatory compliance ensures that customers can engage in digital transactions with peace of mind.

We are excited to be part of this transformative journey.”

said Anson Zeall, Lead Compliance Officer at dtcpay.

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Link to article:

dtcpay, PlatON, and Allinpay International Join Forces for Crypto Payments

Singapore-based dtcpay is launching a payment system that will use fiat and cryptocurrencies for in-store and online payments.

In its announcement, the corporation highlighted Bitcoin (BTC $37,190), Ether (ETH $2,078), and Tether (USDT $1.00). The business is collaborating with Allinpay International to develop smart terminals and a digital interface and with open-source blockchain PlatON to provide privacy-protected digital infrastructure.

Major payment institutions Dtcpay and Allinpay are registered with the Monetary Authority of Singapore (MAS). A representative for Tonghua International, the parent firm of Allinpay, stated:

“This cooperation will […] Help merchants better adapt to the modern payment trend and meet the needs of young consumers.”

Dtcpay will integrate new cryptocurrencies into the new service and swap fiat. Point-of-sale and online checkout are already offered. In September, dtcpay signed an arrangement with Singaporean point-of-sale company Jeripay to provide cryptocurrency payment services on its 8,000-terminal network, and it also secured a contract with London-based Sumsub to supply Know Your Customer services for the dtcpay digital wallet.

Dtcpay, founded in 2019 and formerly known as Digital Treasures Center, was chosen in November 2022 to participate in Mastercard’s Mastercard Start Path program for blockchain and cryptocurrency entrepreneurs. The real estate company Pontiac Land Group backed it in a pre-seed fundraising round in June.

Electronic payments are widespread in Singapore, which is thought to have proactive cryptocurrency legislation, including consumer protection. In October, MAS granted major payment institution licenses to Coinbase and Ripple.

The city-state is also experimenting with digital currency issued by the central bank, but according to the MAS, there is “no urgent use case” for a retail CBDC.

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Link to article:

Singapore Startup Dtcpay Launches Retail Crypto Payments System

Singapore-based dtcpay has announced a collaboration with Singaporean data-sharing platform PlatON and Chinese payments firm Allinpay International, marking the imminent launch of a digital currency payments system.

The trio is set to unveil a cutting-edge digital currency payment system, leveraging smart point of sale (POS) terminals supporting a range of currencies, including USDT, ETH and BTC. The primary goal of this partnership is to broaden the reach of digital payments, providing global users with faster, more cost-efficient and secure payment experiences.

The overarching objective of the collaboration is to empower partners and merchants to seamlessly accept payments in both fiat and digital currencies. By doing so, dtcpay, PlatON and Allinpay International aim to enhance operational efficiency, broaden business outreach and capture the attention of a younger customer base.

Officials emphasize that this venture aligns with dtcpay’s commitment to delivering secure and efficient digital payment solutions while diversifying its service offering.

A spokesperson for Tonghua International, Allinpay International’s parent company, stated:

The collaborative effort capitalizes on the strengths of each entity. dtcpay facilitates swift and secure digital and fiat currency exchange. PlatON contributes advanced privacy computing technology for robust technical infrastructure, while Allinpay International provides smart terminals and online aggregate payment interfaces, eliminating entry barriers relative to Web3 payments.

In addition to driving advancements in digital currency payments, Allinpay International seeks to support merchants in adapting to modern payment trends and meeting the preferences of younger customers. dtcpay’s comprehensive suite of services includes multi-currency swaps, online checkouts and in-store POS solutions, positioning the company as a one-stop solution for merchants embracing the future of payments.

Founded in 2019 in Singapore, dtcpay operates as a regulated payment service provider licensed by the Major Payment Institution (MPI) under the Monetary Authority of Singapore (MAS).

The company struck up a similar partnership in September, bringing crypto payments to the POS system of Jeripay, which has a network of 8,000 terminals in Singapore. In an interview earlier this year, the firm’s CEO Kanny Lee outlined that dtcpay had targeted Hong Kong and Dubai as markets in which the company plans to expand.

The collaboration’s momentum was further solidified at the end of September 2023 when dtcpay partnered with Sumsub, a global full-cycle verification platform. This partnership aimed to enhance the security and reliability of digital currency payments in target markets such as Singapore, Hong Kong, Dubai, the UK and Europe. Sumsub integrated its electronic Know Your Customer (e-KYC) service into dtcpay’s wallet platform, streamlining the onboarding process for customers engaging in transactions through the platform.

PlatON is an open financial infrastructure that features verifiable and privacy-preserving computation. It will endeavor to bring financial-level system stability and compliant digital asset management to the collaboration. Allinpay is a global financial payment company focused on providing diverse payment solutions while enhancing digital financial technology services globally.

Link to article –  https://coinness.com/en/news/1223

This announcement comes in conjunction “with Hong Kong Fintech Week, underscoring the significance of this strategic alliance.”

Together, they aim to enhance the digital payment landscape “by jointly developing and launching an innovative digital currency payment system based on smart terminals.”

This new system will “support USDT, ETH, BTC and other mainstream currencies, providing global users with faster, more cost-effective and safer payment experiences.”

The launch of this system will empower our partners and merchants “to accept payments in both fiat and digital currency, significantly enhancing operational efficiency and broadening the reach of their business to include younger consumers.”

dtcpay, a regulated payment service provider, will “facilitate swift, seamless and secure digital currency and fiat currency exchange serviceFitness.”

PlatON, a public digital infrastructure platform, will “leverage advanced privacy computing technology to construct the underlying technical infrastructure.”

Allinpay International, a globally recognized payments provider, will “provide smart terminals and online aggregate payment interfaces to remove the barriers of entry to Web3 payments.”

As a Major Payment Institution licensed by the Monetary Authority of Singapore (MAS), dtcpay prioritizes paramount importance “on security in every transaction.”

The teams are dedicated “to empowering individuals and businesses with seamless and efficient value transfer, all while adhering to the most rigorous regulatory standards.”

Their comprehensive suite of services “includes fast, low-cost and secure multi-currency swaps (fiat-to-crypto and crypto-to-fiat), online checkouts as well as in-store Point-of-Sale (POS) solutions.”

dtcpay will lead the way in “facilitating digital currency and fiat currency exchange services, bridging the gap for individuals and businesses seeking seamless and efficient value transfer.”

PlatON, a digital public infrastructure provider, “will play a crucial role as the technical support partner.”

By leveraging advanced privacy computing and blockchain technology, they will be “able to construct a core underlying infrastructure with unparalleled efficiency, security, and scalability, ensuring a seamless and secure payment experience for both users and merchants.”

Allinpay International will introduce smart terminals and online aggregate payment interfaces to “facilitate seamless integration of traditional and digital payments so users can enjoy a payment experience as convenient as traditional methods.”

Link to this article-

https://www.crowdfundinsider.com/2023/11/215793-singapores-dtcpay-teams-up-with-platon-a-privacy-preserving-digital-public-infrastructure-provider/

Singapore-based dtcpay is set to launch a payment system that integrates fiat and cryptocurrencies for both in-store and online transactions. The company’s announcement specifically mentioned Tether, Ethereum, and Bitcoin as part of its cryptocurrency integration. Dtcpay is collaborating with PlatON, an open-source blockchain platform, to develop privacy-preserving digital infrastructure. Additionally, it is working with Allinpay International, based in China, to create smart terminals and digital interfaces for the payments system. Both dtcpay and Allinpay are significant payment institutions registered with the Monetary Authority of Singapore (MAS).

The partnership aims to enable merchants to better adapt to modern payment trends and meet the evolving needs of young consumers. Dtcpay’s new service will facilitate the exchange of both fiat currencies and cryptocurrencies, with plans to incorporate additional cryptocurrencies over time. The company already provides point-of-sale and online checkout services, and this expansion underscores its commitment to embracing diverse payment methods. Dtcpay had previously partnered with Sumsub in September to offer know-your-customer services for its digital wallet and collaborated with POS provider Jeripay to extend cryptocurrency payment services across a network of 8,000 terminals.

Founded in 2019 as Digital Treasures Center, dtcpay was selected to participate in Mastercard’s Startup Pathways program for cryptocurrency and blockchain startups in November 2022.

Link to article – https://bitkan.com/news/dtcpay-s-bold-move-revolutionizing-retail-crypto-payments-with-chinese-partners-21810