AGPaytech

AGPaytech is a fintech company that provides a money transfer solution for business and individual all over the world.

A list of our services include ATL Money Transfer, RemitAll Software, ATLPay.

10/03/2022

The Eastern Caribbean Central Bank(ECCB) is completing the final testing DCash, which will be offered as a platform for public use.

This system offers features that enhance security and integrity. For instance, ECCB has taken the opportunity to improve the certificate management processes upgrades to the DCash platform, thus making it more robust security-wise.

The ECCU( Eastern Caribbean Currency Union) is becoming the first currency union to issue a digital currency. The people of the ECCU remain at the centre of the DCash pilot.

07/03/2022

eWallet or Hardware wallet?

eWallets are contributing significantly towards making the cryptocurrency user experience more accessible. Although there are immense benefits of using such technologies, there are risks that they present.

Storing a significant amount of money on a device exposed to the internet is not advised, especially in the case of crypto-currencies. If the device is hacked and private keys exposed, it may provide substantial financial loss.

Therefore, hardware wallets are the best component between security and convenience. Many wallets open source their code to allow developers and security professionals to understand precisely how the wallet works and take comfort that there are no weaknesses; however, this also provides transparency to hackers.

11/11/2021

Fintech enables financial institutions to offer complex financial solutions to their consumers using modern technology.

Most companies are utilising the ease offered by the latest technologies in the form of their mobile apps.

Such apps play a crucial role in assisting businesses to identify the usage patterns of their customers. Here-in, data analytics plays a vital role in helping organisations determine and design the product bouquet for their customers.

Furthermore, financial apps allow people to grip their spending or financial decision-making practices better; they can access vital information using this app. Modern technology is making this interaction easier by blending Artificial intelligence(AI), Machine Learning, Blockchain-based security and integrating new business models by combining other fintech solutions through APIs.

Currently, the ongoing fintech revolution presents a massive opportunity for financial companies. The fintech apps are equipped with state of the art technologies that will transform banking and economic activities immensely.

29/10/2021

What is currency pe***ng?

Currency pe***ng can be defined as the process of tethering the exchange rate of one currency with another. A fixed exchange rate system is where the Monetary Authority sets the rate based upon another currency, irrespective of the demand and supply of its own money. However, such a step may give rise to a black market, where people trade currency at more accurate exchange rates.

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25/10/2021

Fintech allows reaching out to people who remain outside the jurisdiction of banking services. It is made possible with the high pe*******on of mobile internet.

Established commercial banks are grabbing this opportunity to stay relevant, considering the charge of Big Tech organisations who don't need to spend on expensive real estate to open branches as means to engage customers.

One of Mexico's largest Bank's has announced creating new APIs that will allow Fintech's access to its information and services. Fintech is growing aggressively in Mexico, where almost 40 Million people are unbanked. It is expected that technology will allow them access to multiple Banking services like Insurance, Credit and Remittance.

22/10/2021

With physical cash, each coin or banknote is a unique object. You can't pay the same coin or banknote to two people. You cannot tear a £100 Bill to make two separate £50 payments. If you wish to pay £50 to someone; You pay a £100 banknote, and the receiver returns a £50 banknote or multiple banknotes of different value, adding up to a 50.

Bitcoin functions similarly; though it is digital, it works more like physical cash; Each lump of Bitcoin that you receive is stored individually like a banknote and cannot be spent in parts.

For payment being made, the payers know precisely what Bitcoins they are paying or which specific bitcoins they have received.

Therefore all bitcoins are traceable right from the very first one.

21/10/2021

Identity Documents issued by Governments are usually required to open Mobile Money Accounts based up Customer Due Diligence Compliance Regulations.

According to the World Bank, about 31% of the adult population do not possess a national identity. Furthermore, 25% of the people who cannot access financial services attribute it to a lack of documentation such as proof of address.

Some SSA (Sub Saharan Africa) countries allow reduced KYC requirements to open mobile money accounts to counter these hurdles.

However, even reduced KYC requirements will demand some form of digital identity validation such as biometric indicators, which only a limited proportion of the SSA population currently possess.

20/10/2021

Although cryptocurrencies are a volatile asset, they have played a transformative role in the payments industry.

Since these currencies are decentralised and not under the jurisdiction of any regulatory authority, to build up participants' confidence, they are designed with very complex payment clearing systems that are difficult to hack.

Since cryptocurrencies present multiple challenges as an asset class, especially its volatility; Most Central Banks globally are now introducing their own Digital Currencies, commonly known as Central Bank Digital Currencies (CBDCs). The technological infrastructure of CBDCs is based on DLT format or Blockchain. Blockchains are the fundamental architecture of cryptocurrencies.

One of the primary reasons for introducing CBDCs is Governments' control over fiat currencies and the use of Central Banks' to determine monetary policies to exert economic influence. And most Governments don't want to lose this influence to new decentralised forms of money.

19/10/2021

API (Application programming interface) is a part of the internal communication of two IT systems that may or may not be a part of the same organisation.

Recording the API key request, which is just a unique ID to identify an app, is how the system registers who is accessing its endpoints at any given point in time.

The applications can communicate and interact with various systems through their respective APIs.

How are these APIs configured?

All APIs have some documentation describing how to communicate with the endpoints.

In brief, APIs are the systems that takes requests and tell a system based on the customer's requirement and return the response.

Address

3rd Floor, 86-90 Paul Street
London
EC2A4NE

Website

https://www.agpaytech.com/

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