E109: Empower banks and businesses to scale with innovative payment with nanopay CEO Laurence Cooke

Laurence is the Founder and CEO of nanopay Corporation, where he drives the vision to offer the infrastructure to enable what’s more commonly known as Central Bank Digital Currency (CBDC). Prior to founding nanopay, Laurence came from the telecom industry where he was Vice President of Wireless at Shaw Communications, prior to his role as Chief Operating Officer of Bell Mobility. Active in the payments community, he is the Chairman of the Paytechs of Canada and a member of the Payments Canada Stakeholder Advisory Committee.

 

Episode overview:

This week, I get to chat with Laurence about how we have an ambitious goal to lead the world’s transition to digital cash. 

What isn't commonly understood about payments, is while money might appear to move quickly or instantly (ie. in the case of e-Transfer), the real money doesn't move until the next day when the banks settle the payment overnight. This creates settlement risk for the banks involved in the transaction. This risk grows exponentially when the transaction is cross-border, introducing currency and exchange risk. 

Our innovative technology securely moves value from one user to another in real time – with instant settlement – and is ideally suited to transform the global payments infrastructure.

That being said, the road to digitizing cash isn't necessarily a straight line. Today, we offer a self-service payment platform for small businesses (you can sign up at Ablii.com), a business to business payment product, and a liquidity and cash management solution for banks.

 

About nanopay:

nanopay is a Fintech company based in Toronto that empower banks and businesses to scale with innovative payment and liquidity software. nanopay offers two products: Connect, a business payment product which easily integrates with your ERP software and enables both domestic and cross-border payments, and Liquid, a real-time intra-company cash and liquidity product, which enables self-service virtual account management.

nanopay's products are built on a payment engine, nanorail, that securely tokenizes money to move value from one user to another in real-time. nanopay is venture funded with strategic investments from international partners including the Merchant Banking Division of Goldman Sachs.

 

Connect with Laurence:

Website: Nanopay.net

Facebook: Nanopay Corporation

Twitter: @nano_pay and @laurencecooke

LinkedIn: nanopay Corporation and Laurence Cooke