How they describe themselves: nanopay is a venture funded Fintech company based in Toronto that provides a unique payment platform that powers multi-currency payment solutions with instantaneous settlement. As a contributing member and proposer of the United States Federal Reserve’s Task Force, nanopay’s technology improves methods for speed, cost, security, scalability, payer authorization, fraud prevention, ease of implementation and data encryption. Its technology represents an innovative way to deliver faster payments for B2B, P2P, B2P and P2B use cases as well as clearing and settlement between banks.
How they describe their product/innovation: nanopay cross-border payments platform enables the banks to provide instantaneous fund transfers including settlement, without intermediaries, with higher straight through processing, full transparency and over 60% cost reduction. nanopay B2B payments enable businesses to make secure and trusted payments between parties who are unfamiliar with each other, without exchanging bank account information. Using ISO 20022 standards to deliver metadata means achieving higher straight through processing.
Product distribution strategy: Direct to Business (B2B), through financial institutions, through other fintech companies and platforms