Centiglobe creates interoperability between wallets
The challenges of Interoperability for wallets wanting to do cross border payments and allowing seamless access to new markets for their clients is to name a few; technical integration, multiple operators with different standards/services, and merchant interaction, FX and Clearing for cross border payments, and Compliance. Centiglobe solves these issues by bridging systems and messaging protocols, while enabling automatic currency exchange and instant settlements.
Example 1: Using Paypal to make a transfer to Alipay
Bob is an American visiting his friend Alice in China. They have just been to dinner. Now Bob wants to pay Alice. Bob is using Paypal, but Alice does not have Paypal, she uses Alipay. A service provider connected to the Centiglobe network solves this problem by bridging these two payment systems enabling Bob to transfer money to Alice instantly.
Example 2: Using Swedish Swish to make a payment in Kenya
Carol is a Swedish citizen visiting Kenya. She is buying groceries in a store. The main method of digital payment in Kenya is MPesa. Carol does not have MPesa but uses her Swedish Centiglobe provider’s application that offers her Swedish payment method Swish. She scans the MPesa QR Code in the store and then pays with her Swish application.