In a current article from November 17, 2020, Stefan Feulner, author at News.Financial, writes about the companies BYD, Upco International, and Moderna. You can find the complete article here.
Here is an excerpt from this article:
AT THE DIGITAL PULSE OF TIME
According to Statista, the global transaction volume in the area of mobile point-of-sale payments is expected to reach approximately USD 1.5 trillion in 2020 and over USD 4.15 trillion by 2024, representing an average annual growth rate of 29.4 percent. The Canadian Company Upco International intends to have a piece of the pie in this growth. The launch of the beta phase of UpcoPay last week brings the Company a decisive step closer to its goal. Initially, UpcoPay is to serve as an innovative, highly secure direct payment method between individuals or between individuals and merchants, since it is based on a blockchain.
Building on this, after the implementation of an e-wallet it will be possible, among other things, to load money, process payments or transfer foreign exchange without having to set up an account or enter sensitive bank data. From 2021, Upco users in Europe will be able to use UpcoPay to send and receive money quickly, securely, and without the use of a credit or debit card. Over time, this service will be extended to other areas such as retail and hospitality.
Token.io is used for this open banking platform for B2B, B2C but also C2C business. The platform already has existing connections with 6,000 banks in Europe alone. This means that no new accounts need to be opened for affiliated companies and end-users. Transactions are confirmed immediately, and the fees for the merchants are reduced by over 50%. This is significantly lower than competitors like PayPal or the well-known credit card providers, VISA or Mastercard.
BUSINESS UNITS OFFER SYNERGIES
In addition to the Digital Services division mentioned above, Upco International also offers traditional telecommunications wholesale in the Wholesale Telecom division. Here, better contractual conditions with international telecommunications providers are achieved by pooling many smaller customers in cross-border telephone traffic. These customers can then use the Digital Services division at any time, resulting in strong organic growth.
Thanks to a complete realignment and the replacement of the management team at the beginning of the year, the Company, based in Vancouver and New York City, is ideally positioned to help shape the digital transformation. The current market value of CAD 4 million does not, in the least, reflect the rapid development of the Company.
© Copyright 2020 – News.Financial