Category: Media Feature

dtcpay has announced a partnership with PlatON, a privacy-preserving digital public infrastructure, and Tonghua International’s Allinpay International, a global FinTech payments solution.

The collaboration aims to revolutionise the digital payment landscape by jointly developing and launching a digital currency payment system based on smart terminals. This new system will support USDT, ETH, BTC, and other mainstream currencies, providing global users with faster, more cost-effective, and safer payment experiences.

The launch of this system will empower its partners and merchants to accept payments in both fiat and digital currency, significantly enhancing operational efficiency and broadening the reach of their business to include younger consumers.

shared Alice Liu, Co-Founder & CEO at dtcpay

PlatON will play a crucial role as the technical support partner. By leveraging advanced privacy computing and blockchain technology, they will construct a core underlying infrastructure with efficiency, security, and scalability, ensuring a seamless and secure payment experience for both users and merchants.

Allinpay International will introduce smart terminals and online aggregate payment interfaces to facilitate seamless integration of traditional and digital. This enables merchants to embrace Web3 payments and attract a younger consumer base.

A senior spokesperson from Tonghua International, the parent company of Allinpay International, stated,

With a shared vision of enhancing the payment experience for users and merchants alike, the alliance of dtcpay with PlatON, and Allinpay International marks a step forward in next-level payment experiences to meet the ever-evolving needs of modern consumers.

Link to article – https://www.worldfinanceinforms.com/news/dtcpay-platon-allinpay-join-hands-to-launch-digital-currency-payment-system/

Dtcpay, formerly Digital Treasures Center, is MAS-registered and already provides some point-of-sale and online crypto payment services.

Singapore-based dtcpay is launching a payment system that will use fiat and cryptocurrencies for in-store and online payments. The company mentioned Tether USDT, Ether, and Bitcoin in its announcement.

The company is partnering with open-source blockchain PlatON for privacy-protected digital infrastructure and Allinpay International to create smart terminals and a digital interface. Both PlatOn and Allinpay are based in China. Dtcpay and Allinpay are registered with the Monetary Authority of Singapore (MAS) as major payment institutions.

A spokesman for Allinpay parent company Tonghua International said:

“This cooperation will […] Help merchants better adapt to the modern payment trend and meet the needs of young consumers.”

Dtcpay will exchange fiat and crypto and onboard new cryptocurrencies in the new service. It already provides point-of-sale and online checkout. In September, dtcpay concluded a deal with London-based Sumsub to provide Know Your Customer services for the dtcpay digital wallet and entered into an agreement with Singapore POS provider Jeripay to provide crypto payment services on its 8,000-terminal network.

Founded in 2019 and originally known as Digital Treasures Center, dtcpay was selected to participate in Mastercard’s Mastercard Start Path program for crypto and blockchain startups in November 2022. It received backing by the Pontiac Land Group real estate conglomerate in a pre-seed funding round in June.

Electronic payment is common in Singapore, which is considered to have progressive cryptocurrency regulation, including consumer protection. Coinbase and Ripple received major payment institution licensing from MAS in October. The city-state is also experimenting with central bank digital currency, but the MAS has stated that it sees “no urgent use case” for a retail CBDC.

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Link to article:

https://cointelegraph.com/news/singapore-startup-dtcpay-launches-retail-crypto-payments-system-with-chinese-partners

dtcpay, a significant player in the digital payments sector, has teamed up with PlatON, recognized for its pioneering efforts in privacy-preserving digital public infrastructure, and Tonghua International’s Allinpay International, a global FinTech payments solutions.

The collaboration between dtcpay, PlatON, and Allinpay International is primarily focused on launching an advanced digital currency payment system.

This innovative payment system will enable partners and merchants to accept both fiat and digital currencies, thus improving operational efficiency and attracting younger consumers.

The alliance underlines a shared vision to transform the global payments landscape, meeting the evolving demands of modern consumers. This strategic move is a significant step towards enhancing payment experiences for users and merchants worldwide.

dtcpay Co-Founder & CEO Alice Liu remarked, “dtcpay’s collaboration with PlatON and Allinpay International is testament to our dedication in providing secure and efficient digital payment solutions. We look forward to this partnership enabling us to deliver even more diverse and secure payment solutions.”

Keep up with all the latest FinTech news here.

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Link to article:

dtcpay joins forces with PlatON and Allinpay to pioneer next-gen digital payment solutions

Singapore-based dtcpay is launching a payment system that will use fiat and cryptocurrencies for in-store and online payments. The company mentioned Tether (USDT), Ether (ETH) and Bitcoin (BTC) in its announcement.

The company is partnering with open-source blockchain PlatON for privacy-protected digital infrastructure and Allinpay International to create smart terminals and a digital interface. Both PlatOn and Allinpay are based in China. Dtcpay and Allinpay are registered with the Monetary Authority of Singapore (MAS) as major payment institutions.

Continue Reading on Cointelegraph

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Link to article:

https://www.investing.com/news/cryptocurrency-news/singapore-startup-dtcpay-launches-retail-crypto-payments-system-with-chinese-partners-3231348

Singapore-based dtcpay has partnered with PlatON and Allinpay International to launch a new digital currency payment system based on smart terminals. 

Through this collaboration, the companies intend to improve the digital payment landscape by developing and launching a digital currency payment system that supports USDT, ETH, BTC, and other currencies. The system aims to provide global users with faster, more cost-efficient, and safer payment experiences.

The partnership’s objective

With the launch of the new system, dtcpay, PlatON, and Allinpay International intend to enable partners and merchants to accept payments in both fiat and digital currency, therefore enhancing operational efficiency and broadening the reach of their business to include younger customers. According to officials, dtcpay’s partnership with PlatON and Allinpay International supports the company’s commitment to providing secure and efficient digital payment solutions, as well as its plans to deliver more diverse and safe services.

By joining forces, dtcpay facilitates swift, simplified, and secure digital and fiat currency exchange, while PlatON leverages advanced privacy computing technology to develop the underlying technical infrastructure and Allinpay International provides smart terminals and online aggregate payment interfaces to eliminate entry issues to Web3 payments. Representatives stated that dtcpay’s commitment to regulatory compliance aims to ensure that customers can engage in digital transactions safely. PlatON’s role in the partnership also extends to offering technical support, thus ensuring a streamlined and secure payment experience for both users and merchants.

In addition to promoting the development of digital currency payments, Allinpay International aims to support merchants in adapting to the modern payment trend and meeting the requirements of younger customers. dtcpay’s suite of services includes multi-currency swaps, online checkouts, and in-store Point-of-Sale (POS) solutions. 

More information about dtcpay

As a regulated payment service provider, dtcpay offers solutions for merchants to expand their revenues with increased acceptance rates for fiat and cryptocurrency transactions. The company aims to provide its clients’ customers with simplified payment experiences by offering solutions such as POS+ terminal in-store and online checkout. Launched in 2019 in Singapore, dtcpay is licensed by the Major Payment Institution (MPI) under the Monetary Authority of Singapore (MAS) and provides Digital Payment Token (DPT) services.

At the end of September 2023, Sumsub, a global full-cycle verification platform, partnered with dtcpay to enhance the security and reliability of digital currency payments in target markets. The collaboration allowed Sumsub to integrate its e-KYC service into dtcpay’s wallet platform to simplify the onboarding process for customers who transact with businesses using the platform. The two companies intended to focus on target markets such as Singapore, Hong Kong, Dubai, the UK, and Europe. 

About PlatON and Allinpay International

Being an open financial infrastructure characterised by privacy computing, PlatON provides financial-level system stability, performance enhancements, privacy computing, compliant digital asset management, secret payment clearing solutions, and a user-friendly experience for a range of Web3 native applications.

Allinpay International is a global financial payment company that intends to provide diverse payment solutions and enhance digital financial technology services for merchants and customers worldwide. The company’s suite of services includes aggregate payments, global accounts, international remittances, and currency exchange, among others. Allinpay International’s main objective is to develop a business system centred around payment and accounts, with auxiliary financial services and technology scenario outputs. 

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Link to article:

https://thepaypers.com/digital-identity-security-online-fraud/dtcpay-partners-with-platon-and-allinpay-international–1265362

dtcpay has announced a partnership with PlatON, a privacy-preserving digital public infrastructure, and Tonghua International’s Allinpay International, a global FinTech payments solution.

The collaboration aims to revolutionise the digital payment landscape by jointly developing and launching a digital currency payment system based on smart terminals. This new system will support USDT, ETH, BTC, and other mainstream currencies, providing global users with faster, more cost-effective, and safer payment experiences.

The launch of this system will empower its partners and merchants to accept payments in both fiat and digital currency, significantly enhancing operational efficiency and broadening the reach of their business to include younger consumers.

“dtcpay’s collaboration with PlatON and Allinpay International is a testament to our dedication to providing secure and efficient digital payment solutions. We look forward to this partnership enabling us to deliver even more diverse and secure payment solutions,” shared Alice Liu, Co-Founder & CEO at dtcpay.

PlatON will play a crucial role as the technical support partner. By leveraging advanced privacy computing and blockchain technology, they will construct a core underlying infrastructure with efficiency, security, and scalability, ensuring a seamless and secure payment experience for both users and merchants.

Allinpay International will introduce smart terminals and online aggregate payment interfaces to facilitate seamless integration of traditional and digital. This enables merchants to embrace Web3 payments and attract a younger consumer base.

A senior spokesperson from Tonghua International, the parent company of Allinpay International, stated, “We are very pleased to cooperate with industry leaders, PlatON and dtcpay. This cooperation will not only promote the development of digital currency payments but also help merchants better adapt to the modern payment trend and meet the needs of young consumers.”

With a shared vision of enhancing the payment experience for users and merchants alike, the alliance of dtcpay with PlatON, and Allinpay International marks a step forward in next-level payment experiences to meet the ever-evolving needs of modern consumers.

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Link to article:

dtcpay, PlatON & Allinpay join hands to launch digital currency payment system

Singapore, 28 September 2023 – Sumsub, a global full-cycle verification platform is partnering with Singapore-based payment service provider – dtcpay, to enhance the security and reliability of digital currency transactions in target markets, Singapore, Hong Kong, Dubai, UK and Europe.

Through this collaboration, Sumsub’s e-Know Your Customer (KYC) solution will be integrated into dtcpay’s wallet platform, simplifying the user onboarding for transactions with businesses and merchants. This integration ensures swift, user-friendly experiences while maintaining strict regulatory compliance.

The partnership responds to a growing trend in cross-border payments, particularly in Singapore. With Asia already accounting for over 40 percent of global cross-border payments revenue, this collaboration also aligns with dtcpay’s expansion into diverse markets.

As a component of this collaboration, dtcpay is incorporating Sumsub’s verification platform into its current technology infrastructure, enabling customers to utilise a comprehensive onboarding solution. Through this partnership, dtcpay will be able to offer a seamless onboarding process for customers looking to make multi-currency swap (convert digital currencies or fiat assets without high conversion fees), online payments, in-store payment and PayByLink.

The integration will ensure quicker and more user-friendly experiences, while guaranteeing adherence to regulatory standards. By bolstering compliance and streamlining cross-border transactions and payments, this partnership also aims to empower businesses and merchants to scale and facilitate their integration into the larger digital currency ecosystem.

This collaboration takes place in a time of rising cross-border payments within a dynamic digital currency landscape in dtcpay’s current market, Singapore. According to search from RFIGlobal, one-in-five (20 percent) consumers in Asia hold cross-border banking products.

In 2021, McKinsey revealed that Asia accounted for over 40 percent of more than $200 billion USD of global cross-border payments revenues, forecasting the market to grow six to eight percent per year by 2026. As dtcpay continues to expand its payment services into diverse markets, the partnership with Sumsub plays a crucial role in facilitating the company’s growth through ensuring compliance with KYC standards across different countries, each with their own unique regulatory frameworks.

“As more businesses in the region, particularly those in the underbanked and unbanked segments, turn to payment service providers for their business operations, the imperative of secure, regulation-compliant payments has never been more critical. But navigating the complex regulatory landscape can be a formidable challenge,” says Penny Chai, VP of Business Development APAC. “We see Sumsub’s role as a regtech service provider to simplify compliance processes and support more businesses in participating in the financial ecosystem. It’s an honour for us to collaborate with MAS-licensed dtcpay, a partner who is also dedicated to driving the growth of businesses and merchants in the region.”

“Our partnership with Sumsub is instrumental in enhancing the security and efficiency of our services. Sumsub’s eKYC solution enables us to streamline the onboarding process for our users, making it faster and more user-friendly. This not only ensures compliance with regulatory requirements but also improves the overall user experience,” said Alice Liu, Chief Executive Officer at dtcpay. “Additionally, Sumsub’s advanced verification technology helps us maintain a high level of trust and security in our platform, which is crucial in the financial industry. Overall, Sumsub’s eKYC solution plays a pivotal role in fortifying our commitment to providing a secure and seamless payment experience for our customers.”

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Link to article:

https://www.asiabiztoday.com/2023/09/28/sumsub-dtcpay-join-hands-to-spearhead-secure-digital-currency-payments-for-businesses/

• Web3 and reality continue to merge as cryptocurrencies are increasingly accepted as a payment method at the places we visit.
• For instance, 500-backed Web3 fintech company Headquarters has partnered with digital payment solutions provider dtcpay and the exclusive Mandala Club in Singapore to allow its clientele the option of paying for their drinks with crytocurrency.
• To pay with crypto, members simply scan a QR code on one of dtcpay’s POS terminals, and Headquarters takes care of issuing digital invoices, settlement and accounting. This initiative aims to streamline Mandala Club’s business operations while enhancing the overall payment experience for their valued members.
• This payment option fits into Mandala club’s NFT-based memberships via its Genesis Pass, which gives members access to other exclusive clubs around the world, and previews, first looks and passes to developments and projects within the Mandalaverse.

– Sharon Paul, CEO of Headquarters.

Link to article – https://dailymarkup.com/?p=4498

Jeripay, a point-of-sale (POS) technology company, has announced a strategic long-term collaboration with dtcpay, a cryptocurrency payment solution provider.

This partnership aims to empower retailers by integrating cryptocurrency as a new and secure form of payment within Jeripay’s POS system covering over 8,000 terminals locations in Singapore. Jeripay and dtcpay will work closely to provide retailers with a seamless and secure way to accept cryptocurrencies, expanding their customer base and enhancing their payment options.

Key highlights of this collaboration include:

• Integration of Cryptocurrency Payments: Powered by dtcpay, retailers using Jeripay’s POS system will now have the capability to accept cryptocurrencies, providing customers with greater flexibility in their payment choices.
• Enhanced Security: The partnership will implement cutting-edge security measures to ensure that cryptocurrency transactions are safe and protected from potential threats, boosting confidence in both retailers and consumers.
• User-Friendly Experience: Jeripay and dtcpay will prioritise creating a user-friendly experience, ensuring that customers can make cryptocurrency payments effortlessly, and promoting wider adoption among everyday consumers.

“By integrating dtcpay’s blockchain payment system in the Jeripay POS, we are able to instantly deploy at over 8,000 locations around Singapore enabling more merchants to adopt digital currency payments. Singapore businesses will get a significant boost to their bottom line with lower transaction fees with faster settlement, “noted Kanny Lee, dtcpay.

“We are happy to partner with dtcpay and share the same philosophy in open innovation. This collaboration can leverage both organisations’ expertise to better support the current dynamic payment market. It will be an exciting period for Jeripay and display team, and we look forward to our collaboration, including outside Singapore,” said Jimmy Teo, CEO of Jeripay.

This collaboration aims to redefine the retail payment landscape, making it more inclusive, secure, and adaptable to consumers’ evolving preferences. dtcpay and Jeripay foresee a prosperous partnership and invite retailers and merchants to join them in this journey.

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Link to article: https://fintechnews.sg/82729/digitalassets/anson-zeall-promoted-to-chief-strategy-officer-at-dtcpay/

SINGAPORE – Singapore-based digital payments firm dtcpay has tied up with a verification platform to make it easier to screen new users.

The verification platform called Sumsub, which is headquartered in London and is in the midst of setting up its regional headquarters in Singapore, will integrate its electronic know-your-customer (KYC) feature into dtcpay’s e-wallet.

Such controls typically allow firms to verify identities and profile their customers to assess the potential money laundering and terrorism financing risks, among other things.

With the integration, when dtcpay needs to screen a new user, it will use Sumsub to conduct the checks, with the results available in less than a minute.

The latest move is meant to simplify and smoothen the onboarding process for new dtcpay users who transact with businesses and merchants using the e-wallet, said the payments company.

It added that the integration of the verification platform with the e-wallet is already in place, although additional features like name screening are still pending.

Ms Alice Liu, chief executive of dtcpay, said: “We are in the process of adding supplementary features to our onboarding system and this is broken down into four stages. We are aiming to complete the whole electronic KYC onboarding system in November.”

Set up in 2019, dtcpay deals mainly with cryptocurrency payments but is working to offer more mainstream digital payment options such as Alipay, WeChat Pay and PayPal.

It received the major payment institution licence from the Monetary Authority of Singapore in August 2022. 

Under the terms of the licence, firms have to do customer due diligence, which the KYC requirement falls under.

More businesses in the region, especially those in the under-banked and unbanked segments, are turning to payment service providers for their business operations, said Ms Penny Chai, vice-president of business development for the Asia-Pacific at Sumsub.

The trend makes it more vital for these payment service providers to be secure and regulation-compliant, she said.

Sumsub, which was founded in 2015, counts crypto exchanges, payment providers and non-crypto digital banks as its clients, including Chinese transportation platform Didi, Ms Chai added.

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Link to article:

https://www.straitstimes.com/business/singapore-based-e-payments-firm-dtcpay-introduces-new-customer-verification-feature