nTrust Joins Fintech Innovation Cluster

nTrust, a Canadian online and mobile Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term services provider, has joined a fintech innovation network created by MaRS Discovery District, a non-profit organization set up to promote technological innovation.

Mutually Beneficial Relations

The network, called the FinTech Cluster, aims to put startups in the financial technology niche in touch with financial service providers that are aware of the disruptive potential of technology for today’s financial sector and are willing to take advantage of it, fostering mutually beneficial relationships.

The FinTech Cluster involves tech innovators in the fields of payments, financial services, peer-to-peer lending, and Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term. One of its goals is to help Canada gain a more prominent position as promoter of fintech.

Specialization is needed to respond to changing consumer demand

nTrust’s President Rod Hsu said: “As the use of money rapidly changes, fintech innovation and development is paramount. Specialization across the industry and partnerships amongst both fintech innovators and with traditional financial services are essential to close the gap between the incumbent system and changing consumer demand and preferences.”

Joining the network will allow nTrust to get in touch with “likeminded stakeholders and innovators,” Hsu added.

nTrust’s services include sending money directly to people, to a bank account, paying for goods and services via a mobile device and loading money into prepaid cards that can then be used to pay for goods both online and in brick-and-mortar stores.