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Payment Porte, Digital Payment Solutions for the Maritime and Shipping Industries

Today, the ocean is the main medium for the world’s goods transportation with about 90% space. But in recent years it has been a challenging ride for the ocean freight shipping payment industry and will get even worse in 2019, reportedly. The majority of the shipping transactions involve profound paper-works which include sales contracts, agreements, port documents, lading bills, invoices, and so on. These documents pass through several parties for various payments and other procedures to take place. This is undoubtedly a prolonged and costly procedure. Except for a few large BCO setups, invoicing is primarily a manual activity for shipping lines. Bank transfers and cheques are mostly used payment methods while credit card payments are uncommon. Another mode is the use of payment platforms but is still in a premature stage.


On-time Delivery has Become a Fundamental Aspect on Logistic Industry

According to a UK-based consulting firm Moore Stephens, the shipping industry is at a huge risk of illicit and/or flawed payments due to the nature of the movement of cash all through the industry. Shipping is unquestionably a cash-driven business with the amalgamation of large, recurrent and often short-notice receipts and payments does not fit healthy with private equity firms when bearing in mind cash management. Therefore, it is necessary for shipping companies to have vigorous and routinely audited systems adopted to guarantee that risks are managed properly and effectively. For the logistics industry, on-time delivery has become a fundamental aspect. One-third of the logistics cost is occupied by transportation. The performance of the logistics system is hugely influenced by freight transportation management and payment processing.


Payment Porte, Digital Payment Solutions for the Maritime and Shipping Industries

The Payment Porte platform, which harnesses public Blockchain and a distributed ledger as the core technology, will allow businesses and individuals to partner up with Payment Porte and make all of their cross border payments frictionless, fast and secure. Payment Porte is developed looking at drawbacks and high service charges which banks boasts on shipping and container industry. Not only this, failure rates of transaction are higher in bank remittances.


Stellar blockchain provides digital assets to transfer at + 1000 trx./sec with 1 billion accounts. Transaction speed is 3-5 seconds here unlike banking processes which can take days to settle. The Blockchain used is so energy efficient that it can easily be scaled. Banks can only transfer money but Payment Porte can transfer any virtual assets with fiat currencies. There is no limitation in currencies conversions. Management of invoices and money is strategically tackled with Payment Porte. 


Built on Stellar Network Protocol, a Top 10 Market Cap Network Protocol

The company is built on a top 10 market cap token/network protocol called Stellar. This is a decentralized and public distributed ledger which uses consensus protocol with a byzantine federated agreement and utilizes quorum slice node permission less/semi-permissions validation. Open source allowance and adoption have been a major fuel for new applications, and envelope-pushing projects to build on top of the foundations of the host protocols rather than reinventing the web.


Payment Porte Services, Apps & Platform

Payment Porte has created a web wallet app, and now entering development of their payment gateway platform, into which a range of applications and services will be offered. These services will include domestic/international cross-border payment solutions utilizing the Porte Token. Under the hood of the platform users will set up wallets and downloadable mobile wallets to make transactions, store and trade their Porte tokens. Payment Porte seek to be an intermediary platform that adds value to their customer’s businesses, global economies and to their growing eco-system.


The clients will set up an account with www.paymentporte.com and provide us with name, email address, phone number, (creating additional, one-on-one compliance with Anti Money Laundering (AML) and Know Your Customer (KYC) standards), and complete an onboard/integrated third party verification process, then when aproved, a wallet can be established based on user set up of private password and passphrase. When account is opened user can begin to tset up transactions by opening transaction and listing transaction payment amount, reference number and confirm the beneficiary bank information for fiat conversion payments, or wallet address and seed/keys for settlement in: Porte, BTC, XLM, ETH. Clients will purchase their utility Porte tokens on Porte's web and mobile platforms which are built on the Stellar network and will be listed on the Exmarkets and Probit exchanges. Additionally, users will be able to purchase tokens on exchanges globally or in person at their personalized brick and mortar office where the staff will assist in the account set up and purchase via digital asset POS system.

Website: https://paymentporte.com/



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1 comment:

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