Allied Wallet is going to introduce blockchain technology to its payment system. The rationale is to speed up transactions and reduce service costs.
The founder and CEO of Allied Wallet Andy Khawaja advised that he is going to use blockchain technology for its payment processor based in Asia.
“This is the future of payments. It will allow us to provide even better payment processing solutions for business owners and consumers. Even IBM is working on a blockchain system; they say it will reduce one of their processes from 44 days to 10. This is innovation and we want to continue to lead our industry,” he said.
Besides, Allied Wallet China plans to implement blockchain in its platform in the summer of 2020. The main goal is to reduce service costs for the consumers and minimize transaction speed.
What is Allied Wallet?
It is an international payment service for e-commerce transactions. An entrepreneur and philanthropist Andy Khawaja created Allied Wallet in 2005. And the service focuses on payments for small and average-sized businesses.
For today, the service is present in Germany, India, Macau, Hong Kong, and the United Kingdom. Though, it has very little coverage in the US. But the platform heavily operates in Asia. Moreover, it was the first company that officially got the right to transfer the Yuan online. And it was a significant foray in the East.
In general, the platform offers a number of payment solutions in 196 countries.
Besides, in 2019, the African market became one of Khawaja’s priorities.
“Africa is the future,” says Khawaja. “Investing in the human capital of youth, creating jobs and helping the massive 15-to-22-year-old market become self-supporting is what I really want to do. And Allied Wallet is a powerful tool for helping young people break out of their dependency on governments.”
Previously, Altcoin Buzz wrote about privacy-centered and privacy-focused blockchains.