CBDC Payments
Central Bank Digital Currency is the culmination of digitization in payments with not only the payment process being digitized, but also the basic payment instrument being fully digitized with all the necessary security, authentication, protection mechanisms, while enabling the public to maximally benefit from this process. Typically, this will be the responsibility of the Central Bank of a nation to come up with the CBDC which is pegged on par with the currency of the nation and define mechanisms to enable the population to utilize this for digital payments which constitutes the retail CBDC payments. The inter Banks and Central Bank’s CBDC payments correspond to the wholesale or the commercial CBDC payments.
NewNet CBDC solution addresses the multiple use cases associated with the digital currency payments and offers solutions to accept these payment from specific CBDC wallets issued by commercial banks for retail and peer to peer payments with tokenized CBDC. The solution works with vendor-based wallet applications holding the tokens and allowing the conduct of payment transactions from consumer to merchant wallets or consumer wallet to merchant POS systems connecting to payment service providers’ infrastructure. Secure contactless payments from the wallets are suitably captured as payment transactions and enable the payment providers to operate with the commercial banks to successfully authorize and settle the payment instantaneously.
Central Banks Digital Currency
Virtualized Secure Cloud Payment Routing & Transport Solution
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