French payment and transactional services company Worldline has completed the second phase of development for its “Payments Platform as a Service” (PPaaS) solution. At launch, the solution will have 16 foundational partners, including nChain, who will be able to build state-of-the-art payment solutions for their customers across all commerce channels.
PPaaS is an open ecosystem combining natively built services with connections to third-party applications, Worldline explained in a press release. The solution will support all devices and partners. It will allow all Worldline partners to activate different features in order to create and enhance their merchants’ offerings through open APIs.
The PPaaS will allow software vendors to incorporate payment solutions into their products through a single integration process. The integration will allow them to access connections with regional and global payment processors. It will also serve companies providing such services as loyalty, fraud management, ‘buy now pay later,’ data intelligence and merchant onboarding digitization.
“Acquirers, gateways, and ISVs can easily enable these services through PPaaS, enriching their own offering to their end-merchant customers,” according to the company.
Sixteen companies have already joined the project as foundational partners. They include London-based enterprise-grade blockchain solutions provider nChain. Others include digital wallet provider Paysafe, leading mobile payment company PayU, fraud prevention firm Forter and AI-based identity technology provider Onfido.
Giulio Montemagno, the managing director of PPaaS at Worldline, remarked, “We build the core capabilities as well as the connections to a variety of players in different fields of the commerce ecosystem, so that whether you’re a payment processor or a solutions integrator, when you join the PPaaS ecosystem, you can pick and choose the elements that you want in order to design and deliver the best experience to your merchant customers.”
The partnership with Worldline is the latest for nChain, a firm that has continued to champion enterprise adoption of blockchain technology. The company is advancing their own blockchain platform for enterprise, which is expected to be launched later this year and benefits from nChain’s extensive portfolio of blockchain patents.
nChain David Washburn said, “We are pleased to bring our blockchain, data integrity, and business process expertise to PPaaS. Blockchain provides unique properties that enable lower transaction costs and real time settlement, as well as providing integrity of data and information, and we leverage these to build products and solutions that we see as fundamental to the future of payment processing. These benefits and the overall reliability of our solutions have positive implications for acquirers and merchants alike.”
See also: nChain CEO David Washburn and GeoSpock CEO Richard Baker presentation at CoinGeek Live, Exploring the Opportunity to Digitize the Physical World with the Bitcoin Blockchain
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