Align Commerce’s solution may offer businesses electronic payment enhancements across the globe by removing middlemen, as the company’s CEO, Marwan Forzley, highlights, coindesk.com reports. By middlemen, Forzley means to remove the banking system, with its fiat taxation, in the process of cross-border payments and remittances.
Forzley explains the term `container’ as a shipping compartment that moves goods from different countries in a point A to point B scheme. For example, a payment sender can have USD at point A and EUR receiver at point B. To facilitate this type of transaction, Align Commerce uses Bitcoin in the middle of the transaction as the container.
Align Commerce depends on Bitcoin wallets, exchanges and blockchain API companies in order to operate, but avoids the existing payments system. Align Commerce’s strategy centers on providing expedited service and improved tracking ability compared to what banks offer right now.
Using the aforementioned Bitcoin container concept, called Payinlocal, allows an ecommerce merchant the ability to accept many different types of currency. Accepting electronic payments is one of the biggest problems businesses have in some regions, especially in places where credit cards or other digital payment solutions are not very good options.
With Payinlocal, Align Commerce allows an ecommerce website to receive local currency as payment. By using Bitcoin as a transport method, these payments can be completed even if customers are located across the globe and using a completely different currency.
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