ZED Network Partners with Interstellar to Service Money Transfer Operators on top of Stellar

ZED Network Partners with Interstellar to Service Money Transfer Operators on top of Stellar
14.09.2018 12:57 pm

ZED Network Partners with Interstellar to Service Money Transfer Operators on top of Stellar

Payments

Integrated global payments platform ZED Network today announced an agreement with Interstellar, a company that develops applications and infrastructure for the Stellar ecosystem with the aim to revolutionize the world of cross-border, cross-currency and cross-asset transactions by creating a universal global payment network.

Stellar connects banks, payment systems and people to move money quickly and at no cost.

ZED provides Money Transfer Operators (MTOs) with a comprehensive “remittance-in-a-box” solution including mobile and web apps, comprehensive back office support, and KYC/AML monitoring and reporting.  As part of the agreement, ZED will also provide MTOs with an instant settlement option on top of the Stellar Network.

“ZED Network and the team at Stellar and Interstellar share a vision for transforming the remittances sector by powering cross-border payments seamlessly and instantly,” said Alan Safahi, Founder and CEO of ZED Network. “We look forward to collaborating with Interstellar to significantly grow ZED Network’s worldwide reach.”

“We are very excited to partner with ZED Network to help accelerate the growth and adoption of the Stellar Network” said Paul Arnautoff, Head of Sales and Partnerships at Interstellar. “ZED provides a unique platform to help Money Transfer Operators immediately participate in the Stellar Network without any investments in technology or integrations. We're looking forward to working with ZED to expand our reach and provide a broader ecosystem of partners.”

ZED’s proprietary technology aims to address the imbalances and inequities in the MTO market. Executed over Stellar to a network of sending and receiving MTOs in multiple worldwide corridors, the ZED platform offers a single point of integration for MTOs for the sending and receiving of remittances including a wallet, web and mobile apps, the facility to exchange multiple currency pairs, and a robust back office with suite of analytics and reporting tools for compliance and monitoring. And on a societal level, ZED Network will reduce the $40+ billion in remittance fees currently charged - fees which disproportionately affect the world’s lowest wage earners.

Stellar is an open global protocol for payments enabling low cost, high access, and seamless multi-asset transactions. Interstellar enables forward-thinking financial entities, like ZED Network, to easily join the Stellar ecosystem.

Related News

Payment Security Compliance drops for the first time in six years, states Verizon’s 2018 Payment Security Report

After documenting improvements in Payment Card Industry Data Security Standard (PCI DSS) compliance over the past six years (2010 – 2016), ... Read more »

Worldline delivers Tiffany & Co’s first ever luxury vending machine in the UK

Worldline [Euronext: WLN], the European market leader in payment and transaction services, has successfully delivered the first UK... Read more »

7th Swiss Payment Forum: Digitization of the Financial Sector

Today, digitization is omnipresent in most areas of our lives. Also the financial sector has to face the changes and developments which are brought along with the new era of an... Read more »

Prasos now processing via Paydentity™

Australian Securities and Frankfurt Stock Exchange cross listed iSignthis Ltd (ASX: ISX |FRA: TA8), the leading payment and identity technology company, is pleased to announce... Read more »

EMVCo Adds Fourteen New Associates from Across Industries to Accelerate Payment Technology Innovation

Global technical body EMVCo has welcomed fourteen new organisations to its Associates Programme to increase cross-industry collaboration in the development of EMV®... Read more »

Omnia Casino integrates Trustly ‘Pay N Play’ for regulating Swedish market

Omnia, the world’s first AI-built and compliance-led online casino, has integrated leading payments provider Trustly’s new ‘Pay N Play’ technology to instantly recognise... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App