Web3 financial ecosystem Reltime has launched an embedded finance platform that enables companies to offer their customers fully compliant, real-time financial services.
The new FastTrack to Embedded Finance platform is designed for firms that have a large customer base, including telecom operators, financial services providers that focus on specific target groups, neobanks, gaming and virtual sports metaverse companies, supermarket chains, shopping malls and eCommerce firms, Reltime said in a Monday (Nov. 7) press release.
“Through Reltime’s best-in-class FastTrack to Embedded Finance, game-changing financial services can be provided to your customer base under your own brand, providing attractive new revenue streams while reducing your customer churn,” Reltime CEO Peter Michel Heilmann said in the release.
Among the embedded finance services that Reltime can provide is a super app that handles both fiat and digital assets, moves money between any country, and provides settlements in under five seconds, according to the release.
The super app also offers joint accounts; physical, biometric and virtual cards; and transactions via QR code, mobile phone, virtual wallets and email.
Other embedded services include peer-to-peer and peer-to-marketplace lending and borrowing, as well as swapping and bridging digital assets, per the release.
PYMNTS research has found that one-quarter of all consumers indicate they have high interest in a super app that can streamline their activities and help them manage their digital lives.
Millennials are especially interested in a super app, with 40% reporting that they are very or extremely interested in this technology, according to “Super Apps For The Super Connected,” a PYMNTS and PayPal collaboration.
“A super app is most appealing to consumers who want to get the most out of their devices and apps — in particular, convenience, enjoyment and effortless management of their daily lives,” according to the report.
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