Tassat a New York-based fintech company offers digital payment solutions for banks to render their services to commercial customers. It introduced the first blockchain-based B2B digital payments platform that was evaluated by a major bank regulator and helping organization prominently.
Tassat recently announced that the Cogent Bank’s digital banking platform powered by TassatPay was launched, and with this launch, the blockchain-based payments platform of Tassat is now available to B2B (business-to-business) clients of Cogent Bank.
Chirag Bhavsar, President, Cogent Bank, commented, “We recognize that TassatPay will allow us to compete in today’s digital economy. It’s never been more important to provide our clients with instantaneous payments utilizing blockchain technology.”
TassatPay platform will enable Cogent Bank’s B2B clients to make payments 24*7*365 that is they can pay anytime across a year to clients of Cogent Bank registered in the platform. TassatPay offers eminent capabilities such as enhanced security, immediate settlement, cost reductions, and no limits on transaction volumes or sizes. The payment platform of Tassat also gives a one-stop destination for B2B payments enabling a bank’s consumers to immediately automate payments with smart contracts, and money transfers, and connect to Fedwire in the same interface.
Kevin R. Greene, Chairman, and CEO, Tassat, stated, “We welcome Cogent Bank to the growing roster of banks that are using TassatPay to facilitate real-time payments by their B2B clients. TassatPay is the only private permissioned blockchain-based, real-time payments platform fully deployed within the U.S. banking system. Working within our platform gives businesses confidence that their payments will be carried out safely, securely, and in compliance with banking regulations.”
The launch of TassatPay was originally announced in January 2022 when Cogent Bank signed an agreement, and the launch follow record interest by banks in the payment platform. TassatPay’s clients are Alliance Bank, Signature Bank, Axos Bank, Customers Bank, and Cogent Bank, to provide blockchain-enabled payments for their B2B customers.