View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
September 30, 2021

Webtel.mobi creates payment system fusing cash and digital capacities

By Shalini mani

Global telephony provider Webtel.mobi (WM) has created a unitary payment system with two payment facilities – the ICLM Payments and the TUV Digital Currency Payments.

Free Whitepaper
img

Never Trust, Always Verify: Is Zero Trust the Next Big Thing in Cybersecurity?

Cyberattacks continue to rise every year and no sector seems to be immune. Hackers target sensitive information such as organizational, client, and financial data, as well as intellectual property (IP) and proprietary functions. As digital transformation becomes a top priority for many organizations, traditional perimeter-based security models are no longer sufficient to address the growing cybersecurity concerns. Against the backdrop, enterprises explore zero trust as it takes a micro-level approach to authenticate and approve access at every point within a network. Reasons to read: The cybersecurity landscape is swiftly changing, and businesses need more awareness to meet the evolving change. The report highlights the current state of play and the future potential of the zero trust approach in cybersecurity to protect critical digital infrastructure of enterprises across sectors such as financial services, healthcare, telecom, and transportation, among others. Read our report and gather insights on the following topics:
  • Traditional vs zero trust protection
  • Key advantages and solution providers
  • Major industries and key players
  • Drivers and challenges
  • Top funded startups and Mergers & Acquisitions
  • Implementation challenges
by GlobalData
Enter your details here to receive your free Whitepaper.

The two payment systems come with all the characteristics put together of cash payments and digital payments.

Furthermore, these payments are claimed to be globally applicable, available, and do not need any specialised equipment to function, have multicurrency wallets, allow multicurrency payments with FX conversions in-wallet.

These payment systems are available to both banked and unbanked persons.

The ICLM Payments is claimed to cost low to use, while TUV Payments is free to use.

WM’s ICLM Payments and TUV Payments are available to all WM members on its platform.

WM’s payment systems do not need a central bank issued digital currency (CBDC) to function as its TUV Digital Currency is considered equivalent to a global CBDC.

The firm’s payment systems have been functional in 2009.

It is claimed to have spent nine years in testing and subjecting its system to several third-party due diligences across the world in order to ensure compliance and robustness prior to rebuilding its platform 2 to offer these facilities internationally.

Access to WM’s services is only available to WM members given that it is a closed-loop members-only service.

WM claimed that it has one of the safest systems internationally in terms of security and anti-money laundering.

For members to load WM accounts, they need to transfer funds into their accounts by any means, and also buy TUV Digital Currency from WM agents for cash.

The funds of WM members are held in regulated bank accounts. Therefore, the WM system has complete liquidity, and all payment and settlement transactions occur within a second.

Free Whitepaper
img

Never Trust, Always Verify: Is Zero Trust the Next Big Thing in Cybersecurity?

Cyberattacks continue to rise every year and no sector seems to be immune. Hackers target sensitive information such as organizational, client, and financial data, as well as intellectual property (IP) and proprietary functions. As digital transformation becomes a top priority for many organizations, traditional perimeter-based security models are no longer sufficient to address the growing cybersecurity concerns. Against the backdrop, enterprises explore zero trust as it takes a micro-level approach to authenticate and approve access at every point within a network. Reasons to read: The cybersecurity landscape is swiftly changing, and businesses need more awareness to meet the evolving change. The report highlights the current state of play and the future potential of the zero trust approach in cybersecurity to protect critical digital infrastructure of enterprises across sectors such as financial services, healthcare, telecom, and transportation, among others. Read our report and gather insights on the following topics:
  • Traditional vs zero trust protection
  • Key advantages and solution providers
  • Major industries and key players
  • Drivers and challenges
  • Top funded startups and Mergers & Acquisitions
  • Implementation challenges
by GlobalData
Enter your details here to receive your free Whitepaper.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Wednesday.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Electronic Payments International