Tempo France, a payment and remittances company based in the EU, joined forces with Armenotech, a Cypriot international fintech company, to expand their activities in the global payments industry and encourage more intense integration of Stellar blockchain.
The agreement allows for cooperation in a variety of commercial endeavors, from combined involvement in global remittance projects to the development of ground-breaking novel products for the payment market as a whole. The Cypriot company was able to supply Tempo with a full spectrum of IT infrastructure, including transaction monitoring, Stellar blockchain-based processing, and the implementation of an interface and an application.
The signing of the contract came after a string of effective international projects that the two companies worked on together, mainly in Europe and Asia Pacific region. Additionally, Tempo France looked at the caliber of the past goods and services that Armenotech had offered. By signing the contract, the two businesses pledged to fortify their relationship and use the special expertise gained from previous collaborative ventures for new projects.
“As a company licensed by the Bank of France, we have to provide an EU-standard level of reliability, efficiency and transparency. At the same time, the payment market, including remittances, becomes more and more competitive,” said Alla Zhedik, Tempo France CEO. “Armed with the Stellar platform and with the unique expertise of Armenotech’s specialists, we are able to offer our clients and partners the newest level of efficiency, which benefits every stakeholder. We are talking not only about transactions but about all relevant aspects, including KYC, AML, fraud monitoring, CRM and even customer loyalty programs.”
Zhedik continued by saying that Armenotech’s technical solutions allow Tempo to comply with the regulator’s criteria in an automated manner in addition to processing transactions and improving financial metrics.
In their respective opinions, Armenotech and Tempo France see this as the start of a strategic alliance that will greatly benefit the market.
Daniel Gazaryan, the CBO for Armenotech explained, “Technology is advancing swiftly in the payment business. The synergy between us and Tempo opens a promising channel for Armenotech to participate in new projects involving remittances and payments. It is the adaptation of the Stellar blockchain to traditional fiat money transfers. The sender pays fiat and the receiver receives fiat. But what is in between is blockchain . This increases speed and transparency and reduces costs to the absolute minimum.”
“This collaboration may have broad application in finance, not limited to remittance transactions only. It will greatly assist in building a bridge between traditional and digital finance. It is the future of the financial world,” Gazaryan added.