Armenotech Facilitates Stellar Blockchain Based Remittances in Philippines
Armenotech of Cyprus has collaborated with Tempo France and Cebuana to facilitate Stellar blockchain-based money transfers in the Philippines. Tempo and Cebuana symbolize practical work and financial settlement stakeholders in this new initiative, whereas Armenotech assisted in integrating Cebuana’s IT infrastructure with the Stellar blockchain platform. Through this collaboration, individuals will be able to transmit money from Europe and collect Philippine pesos at over 10,000 Cebuana locations throughout the Philippines.
Senders can pay at Tempo’s locations or utilize Tempo’s mobile app to pay with a credit card. Tempo authorities referenced by ffnews.com emphasized the significance of additional convenience for Filipino natives and how this latest effort can harness cutting-edge technologies to play a crucial humanitarian role.
In addition, they cited the profitable payments industry of the Philippines in addition to the increasing degree of rivalry that force businesses to implement the most advanced technological and promotional tools. Tempo trusts that the Stellar blockchain can provide a significant edge over competitors in the current environment.
In November 2022, Tempo France collaborated with Elsa Care Technologies of Spain to launch money remittances in the Philippines. Through such a partnership, clients were able to transfer funds from the Elsa-care app to beneficiaries’ bank accounts in the Philippines. Armenotech was the coordinator of the businesses’ technical platforms and Tempo’s strategic ally in technology initiatives.
Armenotech officials referenced a comparable source that highlighted the technology’s capacity to guarantee exceptional speed and dependability while minimizing costs and disclosed that Armenotech and Tempo intend to debut B2B payment systems powered by the Stellar blockchain. In addition, they highlighted the synergy between Armenotech and Tempo and how their collaboration demonstrates that a payment service company and a recognized EU payment and remittances provider can collaborate in tandem within the fiercely competitive money transfer industry.
Tempo France partnered with Armenotech in January 2023 to enhance Stellar blockchain incorporation in the international sector. Through such a collaboration, the two firms agreed to collaborate on a variety of business endeavors, including collaborative involvement in global remittance initiatives and the introduction of innovative new payment products.
Armenotech has transformed into a comprehensive IT framework provider for Tempo France, with Stellar blockchain-powered processing and activity tracking among its most significant solutions. Tempo France representatives emphasized the competence of Armenotech’s experts and the Stellar platform’s strengths. In addition, they disclosed their intentions to offer their customers and associates a novel level of efficiency in domains including KYC, AML, fraud tracking, CRM, and client loyalty programs, in addition to activities.