Simplifying Payouts: A Leap into the Future of Business Transactions

Technology

17 Oct 2023

Harry Kearney, COO

Simplifying Payouts: A Leap into the Future of Business Transactions


Last week, an exciting development unfolded at ZTLment: we secured a unique licence that permits us to operate across the European Economic Area. This might not sound like much at first glance, but let's delve deeper to understand just how this could revolutionise businesses struggling with manual, complex, and delayed payment processes.

What's the Big Deal About the Licence?


Just like a driver's licence allows you to legally drive a car, this particular licence enables us to legally offer payments services across all European countries - but this time with real fiat currency on blockchain.


With this licence, ZTLment can help businesses streamline complex payment workflows across Europe using smart contracts, making the whole process smoother and faster for businesses.

The Magic of Smart Contracts


Now, you may wonder, what are these 'smart contracts' we keep talking about? Imagine a vending machine. You put in money, and without a human being involved, you get your snack. Smart contracts are similar but in the digital world. These are programmed agreements that automatically perform actions (like transferring money) when certain conditions are met.


ZTLment is utilising this technology to make business payouts efficient and fast, taking human error, delays, and unnecessary steps out of the equation.

Making Business Payouts a Breeze


Businesses often face issues when dealing with payments across different countries in Europe. Each payment involves several steps, lots of paperwork, and a significant amount of time.


But with ZTLment's new licence and smart contract technology, these can become things of the past. Our approach can simplify these payments, ensuring that they occur promptly, improving relationships with suppliers, and making the whole process significantly less stressful.

Who Benefits The Most?


Companies that spend a considerable amount of time, effort, and resources on intricate payout processes and frequently deal with late supplier payments can benefit enormously from our solutions.


By automating and simplifying payments, businesses don't have to worry about late supplier payments and manual workloads.


Industries such as events and ticketing, affiliate networks, digital content platforms, and takeaway companies are particularly suited to benefit from the technology.

Wrapping Up


So, in simple terms: ZTLment is using a blend of a special licence and clever technology called 'smart contracts' to make the process of paying businesses across Europe faster, easier, and more efficient. We're excited about this journey and the potential it has to redefine business transactions.


Feel free to explore our services to find out more about how we can be your supportive partner in this digital age.

Want to know more?

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ZTLment is a licensed payments institute, authorized by the Danish Financial Supervisory Authority to provide financial services to businesses in Europe.

© 2023 ZTLment | CVR 41801298 | FTID 22043 | Linnésgade 20A, 2.sal, 1361 Copenhagen, Denmark

Subscribe for updates

Stay up to date with our news, our product launches, and announcements.

ZTLment is a licensed payments institute, authorized by the Danish Financial Supervisory Authority to provide financial services to businesses in Europe.

© 2023 ZTLment | CVR 41801298 | FTID 22043 | Linnésgade 20A, 2.sal, 1361 Copenhagen, Denmark

Subscribe for updates

Stay up to date with our news, our product launches, and announcements.

ZTLment is a licensed payments institute, authorized by the Danish Financial Supervisory Authority to provide financial services to businesses in Europe.

© 2023 ZTLment | CVR 41801298 | FTID 22043 | Linnésgade 20A, 2.sal, 1361 Copenhagen, Denmark