Blockchain Can Save Businesses Billions!

Updated: May 2, 2021

My #fintech#strategy for #tech companies!

10’s of billions are spent every year (literally) on transaction fees through payment cards. as people spend tons of money on travel expenses, groceries, etc. where the bill hits the roof, on each transaction the payment card company is getting a fee for facilitating the transaction.

However, the companies which were founded nearly 100 years ago are still existing for no reason (not literally), thanks to technology, and here is why! These companies were founded on the basis of creating a secure platform that is more convenient to transfer money between parties compared to having cash or paying cheques, so the consumer, the merchant, and the bank are connected seamlessly.

Now, with technological advancements, the emerge of blockchain and the rise of the fintech industry now comes the time for tech companies to get involved, from complicated #ERP solution providers to small #POS startups, if they integrate their payment gateway with the bank of each party directly, then, there is no need to pay the fee.

Imagine this, a grocery shopper reaches the cashier, opens his/her bank application, and allows the POS system to get the amount of the customer’s bank out directly to the bank of the merchant.

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