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Global PayTech Ventures (GPT) Invests in Silverflow and Its Revolutionary Payment Processing PlatformAmsterdam-based Silverflow provides the first cloud-native card payments platform that connects directly to card networks MIAMI, April 1, 2021 /PRNewswire/ -- Global PayTech Ventures (GPT) today announced its recent investment in Silverflow whose cloud-native platform is able to bring speed, innovation and significant cost savings to the payment processing ecosystem. While large segments of the payments infrastructure have modernized with the advent of the internet, the payment processing side still largely relies on the technology of legacy systems built 25 - 40 years ago, when processing and memory was expensive. Since those legacy systems were designed to preserve processing power by delivering less data, they inherently deny the data-driven needs of 21st century merchants. Silverflow's solution provides a much-needed, state-of-the-art upgrade. One Platform - One Connection More Data, More Speed via The Cloud PSPs connected to 10-20 different acquirers have traditionally been somewhat governed by the level of innovation within those acquirers — some may have incorporated innovation into their offering, while some may not, so merchants of those particular PSP's may not have access to a uniform set of functionality. Silverflow's 'cloud native' processing not only delivers updates and innovation at speed, but also delivers innovation uniformly. Anne Willem de Vries, Co-founder and CEO of Silverflow, said that today's outdated card payment infrastructure hasn't evolved with the payments landscape, but Silverflow can solve a number of important problems. "We can make a demonstrable difference; reducing the time, money and resource the current card processing technology requires. We ultimately believe our platform will facilitate more innovation for the whole card payments system." Nigel Thacker, Chief Commercial Officer of Silverflow, said Silverflow's primary benefits are around data delivery and cost transparency. "We are able to carry and deliver as much data as the schemes give us. By being able to deliver all of that data back to the merchant, we enable the merchant, through their PSP or through their acquirer, to take advantage of that data and to use it for their benefit." "We're saying here's a single API. If you have 10 acquirer connections, then you can load those acquirer bins onto the processing platform and if you add another 10 acquirer connections over the course of time, there's no work for you to do because you've integrated to that single API. It's bringing that kind of innovation to the other side of the platforms." Milestones
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