Blockchain company Apollo Fintech, designing and developing FinTech solutions for the Global Economy, has announced the completion of its National Payment Platform (NPP), an innovative cashless system that enables a central bank to issue a sovereign, digital currency (stablecoin) for national adoption.
After central bank issuance, the NPP system enables a government agency and/or central bank to add commercial banks and agents. Authorized banks can onboard citizens and merchants for mainstream transactions, including currency deposits and withdrawals, currency exchange, money transfers, and payments for goods and services. The platform has the capability to power an economy, from merchants to peer to peer transactions using its app, QR codes, cards, SMS, offline codes, and more.
“The National Payment Platform is the only blockchain-powered system that enables users to make digital payments through a sovereign currency. The NPP enables regulated banks and commercial entities to harness the power of blockchain and facilitate frictionless transactions. This allows economic participants to save large amounts of time and resources and enables an economy to gain massive efficiencies at scale,” said Stephen McCullah, CEO of Apollo Fintech.
National Payment Platform features:
- Online sign-up by merchants and citizens for accessibility and onboarding
- Merchants can publish a product catalog to sell goods (and collect payments) directly on the platform
- Merchants can use the point of sale system to sell goods and services locally
- Deposit and withdrawal of funds via online wallet, as well as money transfers/remittances between wallets and abroad
- Add bank cards to top-up funds or withdraw money
- Generate efficiencies from frictionless transactions across an economy
- The future benefit of quantum-resistant encryption of data on an immutable distributed ledger
- Zero downtime of the database
- Physically accessible throughout the country by government-approved agents/banks
- The ability to make payments and check account data using only SMS
The National Payment Platform is compatible with Apollo Cash, a cashless innovation replacing traditional payment systems by removing the barriers of fiat deposits, accessibility, and usage. Through NPP, Apollo Cash, Apollo Bank Network and other cashless innovations, the firm has created a comprehensive, blockchain-backed, frictionless transaction systems that can collaborate with a central bank and regulated financial industry.
“By solving accessibility and usability challenges, NPP, in conjunction with Apollo Fintech’s other financial innovations can lead to accelerated mass adoption of digital payments and cashless transactions. When utilized, a government and central bank can leverage the security and transparency of blockchain on a national scale. This empowers a government to accelerate the transformation of a national economy and gain unprecedented efficiency, stability and economic control,” added McCullah.
Recently, United Allied States partnered with Apollo Fintech for free-market government
The core vision of Apollo Fintech is to design and develop solutions that far surpass what the FinTech industry currently offers, and to combine those offerings into a single universal ecosystem. The FinTech is determined to set the global standard in financial innovation and professionalism.