The company SMKG highlights its technology portfolio of Paytech, Fintech and Blockchain solutions for Cloud, Mobility and E-commerce. The News and reports on growth and current statistics of China Union Pay with its cards further confirms the company’s futuristic approach in developing market ready solutions with Cross-border Paymet Rails and Digital Onboarding.
The Axepay Platform and Infrastructure is a fully automated payment and settlement infrastructure that processes data and sends instructions for multiple transaction payment types (B2B, B2C, C2B, B2B2C, P2P) and payment methods of the licensed financial services partners together with an ecosystem of licensed third-party financial services partners and solution providers (the Platform or Infrastructure”) The Platform provides a registration onboarding/underwriting process for its Partners, Enterprises, Corporate (SME), Businesses, and Individuals, (the “Users”), digital management of the approval of documents, authentication and verifications, regulatory requirements (KYC/KYB/AML global verifications and screening), transaction screening and monitoring, reg-tech, biometrics, permission based blockchain with digital id-key access management, risk/fraud detection service and enterprise security.
Financial Institutions (banks, credit, unions, trusts), money services businesses (“MSBs”), payment service providers (“PSPs”) Payment Facilitators (“PFs”), other global licensed payment and FX providers and telecoms (“Financial Services Partners”) have an important role in the Axepay Infrastructure. The Axepay Platform via its API allows access to the network of Financial Services Partners and processes the instructions of Users for financial transactions to the Financial Services Partners through the Platform. Axepay is not a Financial Services Partner and any funds transferred or payments made are completed by Axepay’s Financial Services Partners.
Financial Services Partners operate in a heavily regulated financial space and hold the requisite licensing in the jurisdictions in which they operate their business. Axepay integrates with financial Institutions APIs to implement procedures to comply with requirements of the first tier regulatory jurisdictions. Collecting and monitoring the right information is essential and Axepay facilitates instructions on behalf of Users for financial transactions with infrastructure to manage effective Customer Due Diligence (“CDD”), Customer Identification Program (“CIP”) and Enhanced Due Diligence (“EDD”) programs to verify and authenticate User identities and assess the risk of Users sending instructions for financial transactions on the Platform to the Financial Services Partners.
To help in the fight against the funding of terrorism and money laundering activities, national and international Anti-Money Laundering/Anti-Terrorist Financing Laundering Laws (AML/ATF Laws) require Axepay obtains, verifies, and records information that identifies each person conducting business. The CDD review process includes CIP, being Know Your Customer (“KYC”) and Know Your Business (“KYB”) identification and verification criteria, and screening and monitoring for AML/ATF.
Axepay has built in the requisite regulatory requirements of first-tier regulatory jurisdictions. Axepay performs a first level of CDD including risk assessment and AML/ATF verification and screening in accordance with the Company’s AML/ATF policies prior to second level monitoring done by the Financial Service Partners. This model provides a double risk screening system review. In addition, the Company monitors all User transactions on the Platform on an ongoing real-time basis with AML/ATF screening and risk and fraud management tools independently from that of the Financial Services Partners.
Industry Research & Tech related News & Report:
- “China’s UnionPay Issues More Than 200M Digital Cards”.
“UnionPay said 38 million merchants outside of the Chinese mainland accept UnionPay cards, with 4 million added by December 2022, while 22 million online merchants use the company for their payment needs”.
Source link: https://www.pymnts.com/digital-payments/2022/chinas-unionpay-issues-more-than-200m-digital-cards/
At SMKG:OTCB, our collaboration Sponsorship allows for Processing with China Banks and Union Pay and Union Pay Cards from China Mainland which gives us access to more than 176+ countries and regions creating a global payment network for SMKG on top of the existing infrastructure. This business opportunity hugely benefits SMKG’s Platform Axepay for China as a major Corridor with the ability to Onboarding of Merchants inside of China and manage payments channels both ways.
Our white-lable solutions also benefit as they offer the embedded rails of Axepay for advancing SMKG's entry into global and closed circuit markets for its technology and payments services.
SMKG is well positioned to service China and South East Asian markets. We provide white-label SaaS customized platforms to the specifics of our clients requirements.
Dharmesh Vora President of Enterprise at SMKG stated “Domestic Card processors are now exceeding business volumes of the big brand card networks and have international presence and acceptance. We are excited to be part of these domestic card networks allowing our clients to work with their known and trusted partners. This also makes SMKG a trusted brands allowing us to tap in to the domestic clients in each region.
The addition of processing payments into China and Payouts from China with approved Businesses/Merchants - this allows SMKG certain privileges to develop the market globally.
Furthermore, the anticipated integration of China's CBDC the E-Yuan will create a major opportunity to transact over digital platforms further advancing our reach.”
Axepay:
Axepay Inc. specializes in digital cross-border money remittances with automated FX desk and pay-out services including pay-in for Bill Collections. The company delivers a seamless, cost effective and user friendly engagement platform for web and mobility that allows for domestic and international corporate accounts to access automated FX quotes and various payment types such as RTP, ACH, WIRE, Card2Card and Card Issuing to faciliatate B2B, B2C and P2P service models. Our global ecosystem seamlessly accelerates the integration of financial institutions and any FINTECH or PAYTECH solutions that add value to BANKS OR MONEY SERVICE BUSINESSES payment strategy.
Axepay offers a seamless and cost effective Cross-Border payments platform with rails that include Blockchain that access an integrated suite of multi-tenant financial service providers to offer payment acceptance for E-Commerce, E-Billing, E-escrow, SmartContracts and much more with FX automation in over 30 Currencies and end points to 200 Countries and Territories. The Axepay offering also provides onboarding tools for E-KYC/E-KYB with real-time AML monitoring.
About SmartCard Marketing Systems Inc (OTCQB: SMKG):
SmartCard Marketing Systems Inc (OTC: SMKG) is an industry leader in specialized industry Multi-Tenant E-Commerce, Cloud and Mobility applications delivering White-Label solutions to the global PayTech and FinTech markets. SMKG is a boutique technology company, providing Business Intelligence, Commerce Strategies and Digital Transformation with a proprietary portfolio of applications and wireframes for Banking, Enterprises and Retail e-Wallets offering Cross-border Payments, Blockchain Protocols, Crypto Issuing, Chatbot AI, NFT Minting, Tokenization, Digital ID-eKYC, Digital Automation Strategies with option for “License to Own” marketplace applications.
For more info visit https://www.smartcardmarketingsystems.com
or visit our business applications marketplace at https://www.emphasispay.com
SmartCard's common stock is currently listed on the OTCQB under the symbol "SMKG". The shares of common stock covered by the registration statement were previously issued by SmartCard and are being registered to fulfil SmartCard's registration rights obligations to certain stockholders.
The registration statement, while effective, permits resale of the securities covered by the registration statement, subject to the satisfaction by the seller of the securities with the prospectus delivery requirements of the Securities Act of 1933.
The offering of the securities covered by the registration statement may only be made by means of a prospectus. The registration statement and prospectus may be accessed through the U.S. Securities and Exchange Commission's website at www.sec.gov. A copy of the prospectus related to the offering may be obtained from SmartCard Marketing Systems, Inc., 20C Trolley Square,Wilmington, DE 19806, or by calling 844-843-7296.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of the securities in any state or jurisdiction in which the offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
We seek a safe harbor.
For additional enquiries & Enterprise Program connect with:
Dharmesh Vora
President Enterprise Solutions
SmartCard Marketing Systems Inc.
dvora@smartcardmarketingsystems.com
CEO, Massimo Barone
mbarone@smartcardmarketingsystems.com
SmartCard Marketing Systems Inc.
OTC:SMKG Ph: 1-844-843-7296
news@smartcardmarketingsystems.com