Singapore, March 21, 2023 — WadzPay, a leading interoperable blockchain-based technology provider, announced the launch of WadzPay 2.0 to redefine the landscape of virtual asset-based transactions. WazPay 2.0 provides a unique new architecture primarily based on the Algorand blockchain with inbuilt support for several others such as Ethereum, Tron, Avalanche and several others to be added. WadzPay 2.0 construct is designed in line with evolving regulations and needs of banks, financial institutions, telcos and central banks.
Anish Jain, founder and group CEO of WadzPay, said:
“Blockchain is already disrupting global finance, and with WadzPay 2.0, we are bringing a slew of capabilities that will transform digital currency payments. This enhanced product line encompasses issuance, acquiring, remittance, central bank digital currency (CBDC) and tokenization, providing a true one-stop solution for the industry. This is a leap forward in the blockchain payments ecosystem. WadzPay customers can rest assured of an elevated experience for its end users.”
Designed with an API-first approach, a robust compliance framework and customer-friendly dashboards, it enables payments in the metaverse, point of sale, in-app, e-commerce, etc. It also serves as the foundation for the future launch of the WadzPay Chain. It leverages the Algorand blockchain for transaction processing, standard assets for on-chain storage of funds, and a ledger for wallet management and bookkeeping. The platform also incorporates Gap 600’s expertise to manage transaction finality for Bitcoin (BTC) and Ether (ETH)-based transactions, and Bosonic to convert funds at the point of sale (POS).
WadzPay 2.0 boasts several integration options and remarkable features such as:
- E-Know Your Customer (KYC) solution with biometric verification for seamless user onboarding
- Real-time fraud detection, customer screening and transaction monitoring
- Multisignature custodial wallet with multiple-level hierarchy and password management
- Internal and external wallet transfers
- Push/pull payment options with transaction notifications
- Customized reports in various formats
- Issuer and merchant dashboard with seven layers of hierarchy control
- Multicurrency acceptance at POS terminals and e-commerce portals with QR code support
- Settlement in digital or fiat currency of choice, based on market regulation
- On-chain refunds, including multiple refunds on a single transaction
- Inbuilt volatility management solutions
- Improved transaction speeds on Ethereum and Bitcoin blockchains
The WadzPay 2.0 is modular and configurable, designed to adapt to different regulatory, licensing and banking requirements in various jurisdictions while adhering to guidelines such as KYC, Know Your Business, Know Your Transactions, custody services, limits and other controls. All current and future customers will gain access to the distinctive features of WadzPay 2.0.
About WadzPay Worldwide
WadzPay is an interoperable and agnostic blockchain-based payments technology provider available as a Software-as-a-Service platform. The company was founded in 2018 in Singapore and is currently operating globally across Asia, the Pacific, the Middle East, Africa, Europe and the United States. WadzPay aims to optimize the potential for CBDCs and digital assets toward a revolution in the payments industry by enabling faster payments, improvements in security and cost efficiency with optionality. WadzPay is a business-to-business (B2B) technology enabler currently working with large international payments companies, banks and global companies to enable digital asset-based transaction processing and settlement.
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Disclaimer: WadzPay is a B2B technology provider. All regulated activities featured in WadzPay 2.0 are conducted by licensed entities in applicable jurisdictions.