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Checkout.com joins Facebook’s Libra Association to use blockchain for financial inclusion

Image by Checkout.com

Thu, 30 Apr 2020, 04:43 am UTC

Global payment service provider Checkout.com is partnering with Facebook’s Libra Association.

Checkout.com announced the partnership on its blog. The firm wants to enjoy the benefits of blockchain, especially how it works in increasing financial inclusion. Since the firm started, it has been on a mission to change the way businesses interact with financial services.

It aims to make the process better to improve its merchants’ businesses, optimize the payment function, and propel operational efficiencies. Checkout.com believes that by doing so, it can serve more clients worldwide and gain the most from each transaction.

The team behind Checkout.com has been fascinated by blockchain and its potential benefits for global transaction processing. At the same time, it agrees that there should be regulation for security and stable payment infrastructure. The firm found both of these in Libra Association.

“We greatly value the opportunity to uphold these views by joining the Libra Association,” wrote Guillaume Pousaz, Founder and CEO at Checkout.com.

“In the Libra Association, we found a group of peers that share in this philosophy and who demonstrated a thoughtful and realistic approach to how blockchain can be leveraged for the greater good. The Libra project holds the promise of increasing financial inclusion for billions of unbanked people, empowering them to participate in the digital economy and reducing disparities.”

Pousaz and his team want to be part of the Libra Association’s efforts and contribute by bringing its unparalleled payments engineering expertise. Following the partnership, Pousaz is looking forward to developing a new network and help shape its impact on global commerce.

Meanwhile, global nonprofit organization Heifer International has also joined Libra Association this month. The organization has been working with the farmers and it believes that the partnership will create a financial system that better serves the farmers.

“We believe the Libra project has the potential to deliver a lower-cost, more accessible and more connected global financial system. One that will enable people that currently do not have access to the financial system to be connected to a more reliable and cost-effective platform,” the nonprofit organization wrote.

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