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January 4, 2019

Lateral Payment Solutions, Nuggets partner on blockchain payments

Lateral Payment Solutions (Latpay) has selected blockchain-based digital identity firm Nuggets to offer blockchain payments to merchants.

Under the agreement, Latpay will integrate Nuggets into its existing payment platform.

This will boost security by phasing out the need for Latpay’s merchant partners to store customer data.

Moreover, the integration will do away with the requirement to use passwords.

Latpay director Ian Vidamour said: “Our merchants process fast and simple payments via our platform — but they’re also increasingly concerned about how retailers and payment providers store their personal data.

“Our collaboration with Nuggets, and our integration of their blockchain technology, tightened security around the storage of personal information.”

Nuggets CEO and founder Alastair Johnson added: “This partnership also extends the reach of Nuggets to consumers who want to use it to pay with credit and debit cards. This is a huge new market for us: since 2001 Lateral Payment Solutions has processed millions of transactions, across a diverse merchant portfolio.”

“They’ve identified the significant opportunity of frictionless digital identity, payment and verification through blockchain, and we’re looking forward to maximising that opportunity with them. Specifically, the integration with Nuggets will involve connecting the payment gateway via merchant digital identity, to avoid the need for usernames and passwords.”

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