While there are plenty of instant payment options for consumer like Cash App, PayPal, Venmo and Zelle. But when it comes to business payments it is a different story. And those aforementioned payments are not really instant, they still settle like all other bank transactions, typically in two business days. This is all about to change.
My next guest on the Fintech One-on-One Podcast is Kevin Greene, the Chairman and CEO of Tassat Group. His company has created a blockchain-based instant payment network for banks. It works within existing banking regulations and it is live today processing around $50 billion in payments a month.
In this podcast you will learn:
- What led to the founding of the Tassat Group.
- The two components that differentiates what Tassat is doing.
- Why he decided to join as CEO after being on the Board from the beginning.
- The state of the B2B bank payments market today.
- What TassatPay does and how it works.
- The percentage of TassatPay transactions that occurs outside of banking hours.
- How they might use smart contracts within their payments system.
- How the flow of funds work for banks on the Digital Interbank Network.
- The size of bank they are targeting.
- What is involved in getting this setup at a bank.
- Why they decided to build their system on a private permissioned blockchain.
- Why Kevin is super excited about FedNow.
- The state of blockchain knowledge among bank CEOs today.
- Their biggest obstacle to getting people comfortable with TassatPay.
- How they are working with regulators to help them understand.
- What the payments system will look like in ten years.
Connect with Kevin on LinkedIn
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