nanopay Launches B2B Payment Platform for International Commerce

Canada-based payments platform nanopay unveiled its new B2B payments solution for international trading this week. The new platform, which is scheduled to be available to users in February and is currently in private beta, will initially support cross-border payments between the U.S. and Canada. nanopay expects to extend the service to India and China in the second quarter of 2018.

CEO and founder of nanopay Laurence Cooke pointed to the difficulty in paying and getting paid by international trading partners – as well as a lack of visibility – as the challenge the new platform solves. “Business relationships are founded on trust and the nanopay platform eliminates payment risk as an impediment to working together,” he said. “With UPS-like tracking you always know the status of your payment request.”

CEO and founder Laurence Cooke demonstrating nanopay Cross Border / B2B Portal at FinovateFall 2017.

“nanopay’s vision for simple and secure global B2B payments made it an easy choice to implement its platform,” s2H Business Information Systems CEO Sam Andary said. Crediting nanopay’s technology for helping his firm separate itself from its competition, he added, “Our customers will benefit from knowing where their money is at all times and trusting that it’ll be delivered securely – capabilities that customers are growing to expect in this digital age.”

nanopay’s B2B platform supports account-to-account payments, providing full visibility and payment context. This includes ISO 20022 metadata to provide for straight-through processing (STP), and avoids the need for transferring sensitive banking information back and forth. Payment originators will have full visibility of foreign exchange costs when invoices are paid in a different currency, and the platform will be accessible both via API as well as online as a web app.

Founded in 2013 and headquartered in Toronto, Ontario, nanopay demonstrated its nanopay Cross Border/B2B Portal at FinovateFall 2017. Last month, the company partnered with Interac e-Transfer, providing Canadians with another real-time payment option. Also this fall, nanopay announced a pair of C-level hires, adding new Chief Revenue Officer Nilesh Dusane and a new Chief Risk Officer Amir Sunderji. With more than $10 million in total funding, nanopay includes APAGM, Rohatton, Jarnac Capital Management, and Goldman Sachs among its investors.

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  • AutoGravity Introduces Sheng Wang as New Chief Technology Officer.
  • nanopay Launches B2B Platform for International Commerce.

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This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

FinovateSpring Sneak Peek: nanopay

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FS2017-Logo(rev)V1A look at the companies demoing live at FinovateSpring on April 26 & 27 in San Jose. Pick up your tickets today and save your spot.

nanopay is a fintech company based in Toronto that provides a unique payment platform that powers multi-currency payment solutions with instantaneous settlement.

Features

  • Process payments both online and offline
  • Well-suited for all payments including retail, B2B, and cross-border transfers alike
  • Uniquely enables instant clearing and settlement

Presenter

Laurence Cooke, CEO
Cooke is founder and CEO of nanopay Corporation. He was previously Chief Operating Officer of Bell Mobility and Bell Distribution Inc.
LinkedIn

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This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

FinovateEurope Sneak Peek: nanoPay

nanoPay_homepage_February2017

Screen Shot 2017-01-23 at 4.27.53 PMA look at the companies demoing live at FinovateEurope on the 7 and 8 of February 2017 in London. Pick up your tickets today and save your spot.

nanoPay is a fintech company based in Toronto that provides a unique payment platform that powers multi-currency payment solutions with instantaneous settlement.

Features

Enables the banks to provide instantaneous fund transfers including settlement, without intermediaries, with higher straight through processing, full transparency, and over 60% cost reduction.

Why it’s great
The nanoPay platform uses state-of-the-art cryptography and bank-grade HSM security and is designed for global regulatory compliance.

nanoPay_LaurenceCookePresenters

Laurence Cooke, CEO
Cooke is founder and CEO of nanoPay Corporation. Prior to starting nanoPay, he was an independent management consultant with a focus on high tech and telecommunications.
LinkedIn

 

nanoPay_NeboDjurdjevicNebo Djurdjevic, EVP Business Development
Djurdjevic brings 20+ years of global experience in electronic payments. Prior to joining nanoPay, he held senior executive roles with companies including Cardis International and Intellect
LinkedIn

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This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Nanopay Raises $10 Million Series A

nanopay_homepage_october2016

With support from Goldman Sachs, Canadian payments innovator nanoPay has raised $10 million in new funding. The Series A also featured the participation of APAGM Services, Jarnac Capital Management, and Rohatton. nanoPay said the investment will help it develop business partnerships in advance of a larger rollout of its MintChip digital currency technology. The funding will also help nanoPay build additional complimentary services for both the B2B and B2C markets.

nanoPay CEO Laurence Cooke elaborated on this point, saying that in the wake of MintChip’s successful deployment in Canada this summer “our focus is now on expanding the platform beyond digital cash to a broad range of B2B uses-cases that have global applications.” Cooke referred to both B2C disbursements and cross-border payments as examples.

nanopay_stage_ff2016

Laurence Cooke, nanoPay founder and CEO, demonstrated MintChip at FinovateFall 2016 in New York.

Developed by the Royal Canadian Mint and purchased by nanoPay in 2015, MintChip is a cloud-based currency that can be used to securely store and transfer digital value instantly, without third-party intervention. The technology provides for final, irrevocable transactions in real-time that are cryptographically secured. For consumers, MintChip provides a faster checkout process that combines both loyalty programs and payments, and works online as well as in-person. With its open API platform, MintChip has potential applications beyond commerce, including in telecommunications, central bank operations, and for acquirers.

Founded in 2011 and headquartered in Toronto, Ontario, Canada, nanoPay demonstrated MintChip at FinovateFall 2016. Earlier this month, the company announced that Liberty Village would serve as a “working lab” for its digital currency. In July, nanoPay added Tracy Molino as general counsel and chief compliance officer and, in June, the company partnered with Ingenico Group to enable merchants to accept MintChip via their Ingenico Group smart terminals.

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This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

FinovateFall Sneak Peek: nanoPay

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FF2016-Logo-wdate-largeA look at the companies that will be demoing live to 1,500+ fintech professionals on 8/9 September 2016. Register today.

nanoPay’s MintChip has been developed to offer efficient payment transactions in a variety of channels for developed and emerging markets, bringing all the benefits of cash to the digital age.

Features:

  • The core MintChip model is a simple, direct asset-transfer model
  • Payments are immediate and irrevocable, no intermediary
  • Cost and performance can be optimized

Why it’s great
Unlike conventional electronic payment systems, MintChip can operate in both offline and online modes, unreferenced to any trusted party. It provides a low-cost, omnichannel solution for businesses.

PresentersNanoPay_laurence

Laurence Cooke, CEO and Founder
Cooke is the former COO of Bell Mobility and Bell Distribution Inc. and the former VP wireless for Shaw Communications Inc. He also held positions at Accenture, United Kingdom, focused on high tech and telcos.
LinkedIn

Simon Keogh, Chief Marketing Officer NanoPay_simon
Keogh comes to nanoPay from LoyaltyOne where he led new innovation and mobile strategy for their air miles reward program. He has 20+ years’ experience designing and developing award-winning products.
LinkedIn

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This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.