WinstantPay signs a memorandum of understanding with Veritec Inc for global expansion

WinstantPay signs a memorandum of understanding with Veritec Inc for global expansion

Minneapolis, USA 6th July 2020: The Management of WinstantPay is pleased to announce the signing of a Memorandum of Understanding (MOU) with Veritec Inc a US listed company under the symbol VRTC. The purpose of the MOU is to collaborate expanding the WinstantPay global payment network in the US, while promoting Veritec’s proprietary technology globally.

Our first step will be to integrate global payments with enhanced KYC with Veritec’s Blinxpay system under Blinxpay Global, expanding services to the $80 trillion USD global payment market.

With over 70% of global trade being paid in US dollars we see the US market as critical. Revolut raised $500 Million USD at a valuation greater than $5 billion to enter the lucrative global payments market in the US.

Our strategy is to empower local US banks to safely compete with the likes of Revolut. Zelle empowers US banks for local payments, Blinxpay Global empowers banks for global payments and the support of US exporters.

About Veritec (VRTC)

Veritec is a well established, listed company based in Minneapolis, USA. They specialise in their VeriCode® and VSCode™ Secure 2D Barcodes, Open or Closed Loop Secure Payment Systems, Mobile Banking Applications, Prepaid and Stored Value Cards, Bio-ID Cards, Product Marking and Tracking Systems and PhoneCodes™. Currently they only support the US market but are looking to move into other countries in Asia.

About WinstantPay

WinstantPay is a global payment network providing merchants and individuals a reasonably priced global final payment in an instant, in any currency, anywhere, anytime, with integrated anti-money laundering (AML) compliance that reduces time, cost and risks associated with payments. Serving financial institutions of all sizes for the last 20 years with financial services, software development, and business support, WinstantPay is also a founding member of WorldKYC-AML.

If you have any questions please do not hesitate to reach out to our team at press@WinstantPay.com

ROB GRANTHAM / Chief Executive Officer

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