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TerraPay and NPCI International collaborate to drive seamless merchant payments via UPI-enabled QR codes

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LONDON and MUMBAI, India , Sept. 22, 2022 /PRNewswire/ — In a strategic move to further strengthen its cross-border payment solutions, TerraPay, a leading global payments infrastructure group today announced its partnership with NPCI International Payments Limited (NIPL), the International arm of National Payments Corporation of India (NPCI). This association with NIPL will allow Indian customers and merchants in India with an active Unified Payments Interface Id (UPI Id) to make and accept cross-border payments seamlessly by leveraging TerraPay’s agile infrastructure and the UPI network.

In this intended collaboration, both companies will work together to further empower Indian customers with active UPI Ids (350 million bank accounts) to be able to transact at QR locations enabled by TerraPay, globally.

Together, both companies intend to fortify UPI payments & QR solutions to extract their maximum potential. The partnership will further increase the use of UPI and QR for cross-border merchant payments. This initiative will speed up the usage of UPI apps across different geographies thereby further enhancing the digital drive for cashless transactions. Furthermore, since UPI payments & QR transactions are customer-initiated with a two-factor authentication it adds an element of non-repudiation and hence drastically reduces disputes and grievance redressal issues. With this collaboration, TerraPay is keen to build interoperability among the various financial instruments that it powers and get marginalized or underserved communities into the mainstream of digital payments.

Unified Payments Interface is an instant real-time payments (RTP) system developed by National Payments Corporation of India. It is amongst the most successful RTP systems globally, providing – simplicity, safety, and security in person-to-person (P2P) and person-to-merchant (P2M) transactions in India. In 2021, UPI enabled commerce worth 940Bn (~39Bn transactions). In August 2022 alone, the volume of transactions crossed 6.56Bn.

Globally, TerraPay processes pay-outs into 4.5Bn+ bank accounts and 1.5Bn+ mobile wallets. With the vision to foster financial inclusion, residents, POIs, and the Indian diaspora will be able to send money to India by using TerraPay’s agile, transparent and real-time payment highway.

Sharing why this partnership is critical to the vision of a cashless world, Ritesh Pai, President-Product & Solutions, TerraPay said, “Our ambition and aim is to collaborate and develop faster, more innovative, and transparent cross-border payment solutions. This effort is with an intent to establish the foundation of a new reality. We will act as a catalyst whether it’s enabling interoperability between schemes or countries by bringing in ubiquity, convenience, scale, transparency, and affordability. Our partnership with NIPL is one such strong step to make cross-border payments, immediate, cost-effective, accessible for all, and settled in a secure medium thus adding value to the global payments ecosystem.”

Mr. Anubhav Sharma, Head International Business – Partnership, Business Development & Marketing commented, “At NIPL, we are aiming to take the solutions that NPCI has built and established in India to international markets and build a truly interoperable global payments system with other participating nations. We are actively engaging with partners across the world to build partnerships in areas of cross-border acceptance and remittances. With this strategic partnership with TerraPay, we are looking to enhance the overall customer value proposition and provide user-friendly, convenient transaction alternatives to consumers, globally.”

About TerraPay

Headquartered in The United Kingdom, TerraPay believes that the smallest payment deserves a borderless journey as safe as the largest. The company has been building an ever-expanding payments highway that empowers businesses to create transparent customer experiences with an uninterrupted, secure, and real-time global passage for every payment, however small or large. Licensed and approved across 26 global markets, TerraPay companies are a leading global partner to banks, mobile wallets, money transfer operators, merchants, and financial institutions, creating a more expansive and inclusive international financial ecosystem. With access to a payments infrastructure that spans the globe, their partners become beacons of the promise of global financial inclusion.  

For more details, visit terrapay.com 

About NIPL

NPCI International Payments Limited (NIPL) was incorporated on April 3, 2020, as a wholly-owned subsidiary of National Payments Corporation of India (NPCI). As the international arm of NPCI, NIPL is devoted to the deployment of NPCI’s indigenous, successful Real-Time Payment System – Unified Payments Interface (UPI) and Card Scheme – RuPay, outside of India. NPCI has successfully developed and proved its product and technological capabilities in the domestic market by transforming the payment segment in India. Conversely, there are several countries that want to establish a ‘real-time payment system’ or ‘domestic card scheme’ in their own country. NIPL, with its knowledge and experience, can offer these countries technological assistance through licensing, consulting for building real-time payment systems to meet the rapidly evolving needs of fast-growing global businesses. NIPL is focused on transforming payments across the globe with the use of technology and innovation. It will not only enable payment for Indians but also uplift other countries by enhancing their payment capabilities through technological assistance, consulting, and infrastructure.

For more details, visit www.npci.org.in

Media Contact:
Anwesha Mukherjee
anwesha@terrapay.com

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Logo: https://mma.prnewswire.com/media/1905178/NPCI_Logo.jpg

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Technology

Explorer1 Music Group (EX1) Announces The Acquisition And Relaunch Of Music Benefactors, An Sec Registered Music Crowdfunding Platform

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Explorer1 Music Group (EX1) is proud to announce the strategic acquisition of MUSIC BENEFACTORS, an SEC Registered Crowdfunding company, the launch of a new technology and marketing platform, and the release of its latest Crowdfunding offering.

LOS ANGELES, October 01, 2022 /PRNewswire-PRWeb/ — Explorer1 Music Group (EX1) is proud to announce the strategic acquisition of MUSIC BENEFACTORS, an SEC Registered Crowdfunding company, the launch of a new technology and marketing platform, and the release of it’s latest Crowdfunding offering.

Explorer1 Music Group (EX1) is very pleased to announce it has completed the acquisition and relaunch of Music Benefactors (http://www.musicbenefactors.com).

Crowdfunding is a recognized way for individuals and companies to raise money, and the music industry has seen many companies launch in the last few years. Music Benefactors developed a music focused platform which enables instant online investments, with equity ownership being issued in tours, albums and careers of artists and musicians, allowing individual and institutional investors directly receive a portion of income and profits.

Music Benefactors and EX1 consult with and approve each offering, and unlike most other platforms that expect the artist to promote the fundraise, EX1 and Music Benefactors leverage EX1’s global marketing network to promote the offerings, allowing artists and musical projects at any stage of their career to reach a far wider and music focused audience than any other crowdfunding solution. For EX1, the transaction not only adds a crowdfunding platform to it’s fast growing portfolio of brands, but also creates a new pipeline of potential artists for its GRAMMY® Nominated, award winning record label – EX1 Records.

Music Benefactor founder and President, Matt Lutz is joined by Karen Johnson, a seasoned financial professional who serves as Vice President, and advertising guru Terry Balagia, formerly of Saatchi & Saatchi, and founder of Snowball Media, to serve as Chief Marketing Officer. Karen and Terry work closely with Matt, the artists and EX1’s CFO, Philip Slavin, to maximise the opportunity while ensuring full compliance with the various SEC and FINRA requirements.

“I am so proud that EX1 recognized the value in this business and platform I spent years developing,” said Matt Lutz, Founder and President of Music Benefactors. “Their visionary approach to vetting and marketing each of the offerings I believe is a breathe of fresh air in the crowdfunding space, and will give Music Benefactors the edge when it comes to delivering financial success for artists and musical projects.”

“Since launching EX1’s artist partnership model in 2019, we are constantly approached by amazingly talented songwriters, performers and artists that we would like to support, but are not fiscally or creatively a fit for our full partnership model,” said Paul Woolnough, founder and CEO of the Explorer1 Music Group. “With Music Benefactors, we can now provide them a platform to raise the funds they need to take their career to the next level, while opening the door to a deeper relationship that may see them work with EX1 in the future.”

While Music Benefactors has successfully funded music projects in the past, most recently the financing of country artist Karen Waldrup’s latest album, Kendall County Road that was released September 9th, the first offering under EX1’s ownership is for the creation of a Las Vegas extravaganza, and global expansion through franchising of The Violution, a female empowering, all-girl electric stringed instrument band and live experience that delivers a genre crossing, multicultural live musical experience never heard or seen before. To view the offering please visit: http://www.musicbenefactors.com/theviolution

ABOUT MUSIC BENEFACTORS: Founded by CEO Matt Lutz, Music Benefactors Music Benefactors is an SEC registered company with a technology platform that strengthens the connection between performing and recording artists and music fans and investors around the world. By becoming a Music Benefactor you can invest and help your favorite artist fund their careers, tours, albums, or new and exciting projects. becoming a part owner of the assets and content they create, and sharing in the income and profits they generate. Music Benefactors is owned by the GRAMMY® nominated, award winning Explorer1 Music Group (EX1). For more information visit: http://www.musicbenefactors.com

ABOUT EXPLORER1 MUSIC: Explorer1 Music Group (EX1) is a Los Angeles based global full-service music company, run by highly experienced and respected industry professionals who first and foremost are music lovers. EX1 owns and operates EX1 Records a Grammy® nominated, award winning, independent record label who want to self-release music, but still require the distribution, marketing, funding & infrastructure a record company provides.
#Explorer1music | @Explorer1music

For more information visit
http://www.musicbenefactors.com, http://www.explorer1music.com, http://www.ex1records.com

General Contact: contact@explorer1music.com

Music Benefactors Enquiries: contact@musicbenefactors.com

Media Contact

Music Benefactors, Explorer1 Music Group, 1 4243625364, contact@musicbenefactors.com

 

SOURCE Explorer1 Music Group

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Coin Market

Putin gives Snowden citizenship, Interpol elicits help in Do Kwon search and FTX US buys Voyager: Hodler’s Digest, Sept. 25-Oct. 1

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The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — one week on Cointelegraph in one link!

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Coin Market

California fraud cases highlight the need for a regulatory crackdown on crypto

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Recent cases involving crypto fraud serve as a timely reminder to do your own due diligence until regulators take more action. If something sounds too good to be true, it probably is.

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