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SMARTCARD MARKETING SYSTEMS INC. (OTCQB:SMKG) PYMNTS Intelligence: BaaS Makes Embedded Finance a Winning Strategy for All Parties – SMKG IS ALL IN!
SMARTCARD MARKETING SYSTEMS INC. (OTCQB:SMKG) PYMNTS Intelligence: BaaS Makes Embedded Finance a Winning Strategy for All Parties – SMKG IS ALL IN!.
About this update from Smart Card Marketing Systems, Inc.
[{"type":"text","content":" SmartCard Marketing Systems Inc (OTCQB:SMKG) is strategically positioned to grow the BaaS “Banking as a Service” market with its platform offerings; Axepay, Granularchain and Genorocity. It is a well-known fact that Banks offer critical services from Accounts, to Loans, Credit/Debit/Prepaid Cards to Payment Processing, Wire Desk and FX services that also includes large customer pools in Corporate and Personal banking. Their challenge is to bring this all together and that is where we step in – next step is to then offer Open Banking.The SMKG offering not only provides white-label solutions for Banks to step it up in Digital services with Baas but also Embedded Payments and Embedded Finance. This is where we are beginning to shine in the Industry as small and large Banks, Credit Unions and MSB’s require more to compete. Our offerings provide it all or in part to get them started and its a global matter which is unlimited in potential.Now add to this new offerings from Visa and MasterCard for example with Push2Card anywhere payment functions and you can see how Banks can become more dominant in their respective markets as Payment Solution providers for B2B, B2C and P2P. If we take it a step further then we can also bring in Blockchain and Crypto which requires Banks to bring in-house the knowledge and technology to execute and transact products that will higher customer retention and generate new revenues. Industry Related News; Baas “Embedded finance would not be possible if not for Banking-as-a-Service (BaaS), a fee-based model that allows nonfinancial companies to offer financial services to their end users by connecting directly with banks’ systems using application programming interfaces (APIs).”Source link: Express and WHP Global Buy Bonobos From Walmart (pymnts.com)The CEO Massimo Barone state “We have made Baas and Open Banking our mission at SMKG, this includes Paas, Aiaas, Saas and Iotaas verticals to bring out the best industry performance possible for our technology reach.This is a sector dominated by significantly larger competitors but none that own the entire portfolio like our company. It can be a difficult hill to climb, but with the right technology portfolio for Fintech, Paytech and Blockchain with embedded utilities including Digital ID and Digtial Tokenization Issuance all in our hold...