September 13th, 2017 at 12:40 pm UTC · 3 min read
Billon Group (http://www.billongroup.com), today announces it has been accepted into the non-profit Fintech accelerator Fintech71 based in the USA. It is one of ten start-ups selected and one of the few distributed ledger technology companies with proven and live products.
Billon created a breakthrough DLT payment technology for banks, corporates, merchants and individuals that want to settle information and everyday (not crypto) currency instantly and on mobile devices. Billon currently operates in Europe, in both Poland in partnership with banks, and in the UK, where it is an FCA registered e-money institution. Billon currently supports PLN, EUR, and GBP payments.
Fintech71 provides an opportunity for Billon to explore dollar (USD) operations in conjunction with banking and regulated partners of Fintech71. Billon’s platform integrates with existing banking systems and is regulatory-compliant, so it can provide USD operations and low-cost solutions.
David Putts, Chairman and Managing Director of Expansion, adds: In the US, the fight to eliminate cash and checks continues, but with Billon’s breakthrough banking technology, new digital payment capability can be deployed at a price point where even the smallest transaction can be digitized and made profitable. Fintech71 is the perfect partner to help us raise the visibility of our solution.
Andrzej Horoszczak, Founder & CEO, adds: With clean APIs, a bank can connect Billon’s solution in a matter of days, and begin using our existing Corporate Pay out and eCommerce solutions. And as in Poland and the UK, Billon can integrate with ATM’s and store networks to facilitate the conversion of cash to digital, encrypted format.
In addition to financial investment, Billon will receive technical advisory support from Accenture and access to C-level decision-makers from a wide variety of established blue-chip firms that will provide mentorship to the company.
About Billon Group:
Billon is the 1st FinTech company to apply DLT to solve problems in the cumbersome and expensive 2.3 trillion dollar alternative payments market. Billon built a proprietary distributed ledger payments system which integrates with existing banking systems to facilitate everyday (not crypto) currency.
Corporate clients, such as Philip Morris International in Poland, use Billon’s system replace pre-paid cards and vouchers. Billon also provides white label banking solutions for banks, including PlusBank in Poland. Billon’s systems enable banks to reduce account-related costs by 90% and to innovate value-added corporate and emerchant services.
About Fintech71:
Fintech71 is a non-profit start-up accelerator and innovation outpost for Fintechs and top financial services companies in the United States. Located in Columbus, Ohio, the accelerator focuses on growing entrepreneurial activity, attracting more Fintech companies to Ohio, and expanding the innovation pipeline for current private-sector stakeholders, including Ohio’s strong financial services base and Fortune 500 and Fortune 1000 companies headquartered in the state. More information at fintech71.com.
Disclaimer: Billon Group is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest.