Paytech firm PayLogic has collaborated with eCurrency, a provider of digital currency security systems for central banks, to implement a new generation of National Retail Payment Solutions (NRPS).

The new solution suite is said to make settlements more efficient, while supporting interoperability and addressing security concerns.

It will leverage PayLogic’s PayWay technology and eCurrency’s Digital Fiat Currency (DFC) technology to support payments between banks, e-money services providers, and merchants in a quick and secure manner.

NRPS will also enable instant transactions and settlements between senders and recipients.

This will be done in central bank-issued DFC called CBDC (central bank digital currency).

According to eCurrency, the new offering will also curb risks related to digital payment processing.

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It will streamline transaction reconciliation, offering protection against counterfeiting.

eCurrency claims that the new proposition will enhance AML and CFT protections.

Commenting on the alliance, PayLogic chairman Mohamed Mekouar said: “The benefit of our partnership is twofold. First: synergies of both platforms on how they address the needs of the financial community.

“Second: Increased global presence of both companies thanks to leveraging on each one’s customers’ portfolio.”

eCurrency CTO Thomas Kudrycki also welcomed the partnership, saying that the offerings of the two companies complement each other.