Through NPP, Apollo Fintech creates one of the first comprehensive, blockchain-powered, frictionless transaction systems that can collaborate with a central bank and regulated financial industry.
FREMONT, CA: Blockchain company Apollo Fintech announces the completion of its National Payment Platform (NPP), an innovative cashless system that allows a central bank to issue a sovereign, digital currency (stablecoin) for national adoption. After central bank issuance, the NPP system will enable a government agency and/or central bank to add commercial banks and agents. The entire platform has the capability to fuel an economy, from merchants to peer to peer transactions THROUGH app, QR codes, SMS, cards, offline codes, and many more. Authorized financial institutions can onboard citizens and merchants for transactions such as currency deposits and withdrawals, money transfers, payments for goods and services, and currency exchange.
The features of NPP includes online sign-up by merchants and citizens to facilitate easy accessibility and onboarding, merchants can publish a product catalog to sell goods directly on the platform, merchants can use the POS system to sell goods and services locally, deposit and withdraw funds via online wallet, add bank cards to top-up funds or withdraw money, generate efficiencies from frictionless transactions across an economy, quantum-resistant encryption of data on an immutable distributed ledger, zero downtime of the database, access throughout the country by government-approved agents/banks, and the ability to make payments and check account data using the only SMS.
The National Payment Platform is integrable with Apollo Cash, a cashless innovation that enables an economy to change to frictionless digital payments. The NPP takes off the barriers of accessibility and usability by allowing physical access from agent locally and by utilizing top-up cards. Unprecedented usability is provided by allowing digital currency transactions via mobile SMS and text messages.
The advanced capability of the NPP platform can bring enormous economic benefits to developing countries and to millions of banked and unbanked consumers. Furthermore, by removing the major roadblocks to the blockchain, accessibility, and usability, it can accomplish true mass adoption of blockchain and banking the unbanked, two historical milestones.
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