Diversification And Transformation In the Digital Payment Solution Industry
Grow Your Business, Not Your Inbox
The world economy is transforming with an increasing number of innovations. And there is a creator behind each new product/innovation. Around 20 years ago, bank cards were something new for us, and in some countries, even up till now, cash and checks are still being used. During the past few years, a new and innovative approach to finance has emerged. Cryptocurrency or digital assets, and blockchain are taking over the world. Cryptocurrency advocates say it brings security, anonymity and convenience.
According to Cesar Bermejo, founder of one such technologically advanced platform, digital assets are beneficial to everyone: countries can control every unit of a financial asset and eliminate shadow economies by introducing digital money. An ordinary person also benefits in the form of unlimited opportunities from this technology: These include anonymity, no restrictions on transfers. And he is not referring to the future generation. It is already in existence.
He has developed the Expo Pay payment system. The platform has become a link between businesses and financial institutions that enable users to pay for goods and services around the world without difficulties. With university-level education in both economics and computer science, coupled with an MBA from Dartmouth college, Bermejo effectively integrates the financial sector into IT sector.
People are already actively accepting payments in cryptocurrency and are ready to use this infrastructure in all spheres of life. The development of platforms like EXPO Holding has shown that the transition to the digital economy is not an experiment of financial institutions and governments. The key question of interest is how does the new approach differ from the existing payment systems.
Interest in such projects does not come only from ordinary users. Large exchanges have more interest to join this market and participate in the business processes. Expanding partnerships and creating a full-fledged project infrastructure allows companies to expand the boundaries and make it easier for ordinary people to access these tools. For example, EXPO is already cooperating with exchanges such as Coinsbit, P2PB2B and LocalTrade.
Talking about expanding boundaries, Bermejo adds, "We are introducing EXPO Mobile Wallet, which will become a more profitable alternative to existing wallets. First of all, this is due to the absence of payment for use."
Another area of diversification and transformation is the decentralization of communication tools. The digital economy deals with an enormous amount of data. People do not only make payments but also use these communication tools to exchange information. And banking solutions are often integrated into various communications applications. Therefore, it is necessary to develop the entire infrastructure of communication between people and not only payment systems. Particularly, with regards to businesses and customers. Otherwise, any new generation payment system will be a duplication of the existing systems.
"We plan to launch Expo Messenger and other products that will fully cater for every user’s need in the digital space: both from the financial and communication point of view, as well as information and data exchange” says Bermejo.
It’s a fact that new generation payment systems are needed not only to provide real benefits in the form of saving money. The platforms must also give people speed and comfort. And foremost, affordability. So that anyone from anywhere in the world could start a business.
Looking at the devastating effect the pandemic has had on the global economy, we need innovations that cut across more than one sphere of economies, and that is absolutely what platforms like Expo are all about.
One efficient way of achieving global advancements is through local ambassadors and community leaders. This approach is commonly referred to as MLM. Interested users recommend the product to their friends, acquaintances and partners. Thus, the network becomes larger and the company's infrastructure becomes popular. As soon as people start using the product, the business immediately creates the infrastructure for this. And vice-versa. Favourable offers from businesses interest clients to choose the most profitable and convenient method of payment and data exchange.
“MLM model fully meets our expectations because we don’t have enough resources to cover the whole world at once. This is only possible with a committed business community and a vibrant local community,” Bermejo concluded. Right now, the company is already operating in the markets of Latin America, EU countries, and plans to expand into the markets of Mexico, Peru and Spain.
The use of new technologies in the economy is progress that, in one form or another, would occur regardless of our desire. But, as it turns out, some companies have been developing in this area for many years and are ready to introduce their products to the financial services market. We just have to analyze new solutions and inform users about the most interesting projects in the world.