Is NashPay customers will be able to utilize Worldpay’s FastAccess Funding?

Community
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#1

In the third traditional quarterly (Q2 2019) report event in Boston, Fabio Canesin revealed that Nash made a strategic partnership with one of the biggest credit card processor in the world, WorldPay(NYSE:WP).

What is the main benefit for NashPay and it is possible to be able to utilize Worldpay’s FastAccess Funding ?

Thank

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#2

The goal is to allow global processing credit cards on Nash fiat ramp system, FastAccess is a business side product so should be transparent to clients.

Initially Nash fiat ramp will offer global (non-US) bank deposits, allowing in/off ramp of high volume traders with great capital efficiency (like on-board to USDC).

4 Likes
#3

Im gonna try and make this simple … this is my understanding of a NashPay transaction between merchant and client

1 Question ; Is this Roughly accurate?

The merchant makes a NashPay compatible payment request…to the NashPay wallet user/consumer

A Payment Provider completes the wire/visa transfer to merchant on behalf of NashPay

                   USD-C is redeemed

fiat balance forwarded to payment provider

#4

This:

User crypto -----> Nash fiat system --> Trade for USDC on Nash Exchange --> Settle USDC to merchant currency --> Send merchant the fiat.

3 Likes
#5

Ok im impressed .

can we accept payment requests from a merchant generated through visa etc ?

if we can do something like this… until central Bank DLT… at which point there will be no use for analogue .

at which point

User crypto > trade CBDLT for proffered merchant/user coin > instant settlemet

CBDLT - central bank dist ledger tech

#6

How competitive can we be on cost of transfer with all the crypto to fiat flipping … ?

unless we hit merchants that want settlement in crypto = close to zero im guessing.

are we hanging out for central bank or private bank acceptance of DLT … aka Quorum type products …?

#7

Merchants/users will adopt Nash pay if the below 2 are at optimized rates

Trade for USDC on Nash Exchange - The best rate from crytpo in the market (can be achieved with a minimum spread in the exchange)
Settle USDC to merchant currency - Close to real world exchange rate.