How does Apaylo help fintech companies like CoinSmart?
Fintech companies, and MSBs more broadly, often need help accessing the same financial services as other Canadian companies, which leaves them vulnerable as they are otherwise facing the Canadian market alone. Aside from now having processed nearly $12 billion in payments and giving merchants more options and control of their funds, Apaylo adds an extra layer of security by providing best-in-class payment products and best-practice business processes. It is not uncommon for Apaylo to collaborate on solutions to the challenges that can arise with merchants, because “if the merchant doesn’t grow, Apaylo doesn’t grow”. Collaboration is key to the Apaylo business model.
How does CoinSmart help the broader fintech community?
Fintech companies and merchants that are keen to capitalize on the benefits of cryptocurrency as an alternative payment method for their business, or to offer new crypto-related services to their customers, will require a regulated, licensed, and trusted partner to collaborate with that has domain expertise and the right solutions to get to market quickly and securely. This is where CoinSmart and their crypto payment processing and settlement solution, SmartPay, steps in to help. Since 2020, SmartPay has helped businesses process more than $200 million in crypto payment transactions globally. Leveraging CoinSmart’s APIs and advanced technological solutions spanning across crypto payments, invoicing, trading, auto-sell wallets and crypto withdrawals, CoinSmart helps fintechs and merchants offer more diversified and cost-saving payment options. The world of cryptocurrency and blockchain technology can be complex, but its application to real world use cases and problems doesn’t have to be. SmartPay by CoinSmart allows fintechs and merchants to focus on their core business while partnering to deploy easy to use crypto payment processing solutions that can significantly reduce costs, increase speed of settlement and attract a growing (and loyal) market of crypto investors.
How do CoinSmart and Apaylo work together?
Apaylo collaborates in a couple of different ways with Coinsmart which exemplifies not only how blockchain and fintech can work hand-in-hand, but how Fintechs Canada members can find amazing ways to work together! Apaylo manages the fiat on and off ramp for Coinsmart through API, while Coinsmart offers their crypto payment API for Apaylo to leverage. A collaborative ongoing exploration of payments and technology allows for testing proofs-of-concept and use cases such as international B2B payments utilizing stablecoins, or even digital wallets in cashless and remote communities. With these new ways of thinking both Coinsmart and Apaylo can find innovative ideas to bring more access to financial services for everyone worldwide (not just in Canada) and find better ways to serve their own respective communities at home. A real win-win!
Apaylo Finance Technology Inc. is the gateway to open finance in Canada. With over 120 years of banking experience on the executive team, Apaylo bridges the gap between where traditional financial services fall short for Canadian small to medium-sized enterprises, and the innovative possibilities that are being explored by fintech in Canada. Starting as a humble payments technology and software platform in 2019, Apaylo has rapidly become a “white glove” fintech focused on helping Canadian SMEs navigate digital payments and the banking industry in Canada. Merchants in industries like e-commerce, iGaming, cannabis, remittances, as well as app developers enhancing their platforms with embedded finance, all have a common need for transactions. Apaylo thinks beyond the transactions. Payment is not simply about the “transaction”. For Apaylo, it is the complex relationship between two mutually dependent parties or businesses exchanging perceived value, and each of their relationships to the marketplace, society, and ecosystem in which the transaction takes place. Payments are relationships. Relationships are the community. And communities need access to financial services! With high touchpoint customer service, Apaylo is always there to help merchants & businesses of all types, no matter how complex or unique, solve any pain points in their payment flows with their respective communities. Apaylo gives merchants more options and more control over their capital and cash flow. Anything payments related to paying bills, paying suppliers and invoices, and customer pay-ins and outs – Apaylo is there to make it happen safely, securely, and cost-effectively.
Founded in 2018, CoinSmart is a leading Canadian-headquartered crypto asset trading platform dedicated to providing customers with an intuitive way for buying and selling digital assets, like Bitcoin and Ethereum. CoinSmart is one of the few crypto asset trading platforms in Canada to be registered as a FINTRAC restricted dealer and marketplace through the Canadian Securities Association (CSA). CoinSmart is also one of the first Canadian headquartered trading platforms to have an international presence, accepting customers across 40+ countries at a time when the digital asset industry continues to rapidly expand. CoinSmart further builds on its mission to make cryptocurrency accessible by providing educational resources tailored to every level of cryptocurrency knowledge and unparalleled omni-channel customer support. Offering instant verification, industry leading cold wallet storage, advanced charting with order book functionality and over-the-counter premium services, CoinSmart ensures every client’s needs are met with the highest level of quality and care. In 2020 CoinSmart launched SmartPay, its best-in-class cryptocurrency payment processing and settlement solution. SmartPay empowers businesses to receive and send crypto payments without market risk and technical know-how, by providing guaranteed exchange rates, fast settlements, instant fiat conversion and low transaction fees. SmartPay enables merchants to unlock the power of cryptocurrency as a cost effective and efficient way to collect payment, issue invoices, pay suppliers, and process customer pay-ins and outs while eliminating chargebacks and allowing access to new markets and customer bases.