It is time to discover some of the amazing companies and teams who participated in the Algorand Europe Accelerator 2021 program. Meet Payscript.
HQ: Melbourne, Australia.
Founders: Nadeem Shaikh (CEO), Ralph Kalsi (CMO)
In 2020, we saw the acceleration of a number of different technological trends as major industries adjusted to the ramifications of COVID-19. Alongside the notable change in the demand for digital assets such as Bitcoin, it’s become clear current payment rails and crypto payment infrastructure just isn’t effective or viable enough for the average consumer. Every day small businesses, E-commerce stores, FinTech’s, financial firms and normal consumers now all want to use and accept cryptocurrency payments for transactions, yet there currently exists no easy integrations or systems to allow for that to happen.
Payscript is building a payment orchestration framework simplifying digital payment acceptance and crypto spending to remove barriers to widespread crypto adoption. They have built simple and easy to use software for Digital Wallets, Point of Sale Software and Crypto Payment Gateway Widgets which allow merchants to start accepting crypto payments via multiple channels. Moreover, Payscript has simple APIs so that their complete solution features can be integrated natively into existing apps and software. Financial firms such as Banks can use their APIs to start allowing their customers to buy Bitcoin natively in their app.
The team behind Payscript are passionate executives and evangelists for Blockchain and Cryptocurrencies. Nadeem started accepting crypto payments for his business in 2018 and felt the need for enterprise software with a hassle-free experience. Nadeem met Ralph via Linkedin in 2019 and both of them sat together to brainstorm the solution which grew into Payscript. They started with a simple easy to set up wallet such that merchants don't have to remember the private keys of the wallet. Users just sign up on the website and are able to reset passwords via email similar to Facebook or LinkedIn.
Nadeem and Ralph have built Payscript with a mission to facilitate the adoption of cryptocurrencies to allow for mainstream adoption. They bring to the table complementary skills sets of Technology and Sales / Marketing respectively which makes them the right team to bring this vision into reality. Over the last 18 months, Payscript has brought on-board notable advisors to support their vision and their current advisory board consists of senior industry veterans of 15 to 20 + years of expertise in the Financial Services domain. Since launching the service in early 2021, they have already entered into a number of exciting partnerships that have geared us up to make a real difference in the crypto payments space. Some of the key achievements include partnering up with an STO issuance platform for stablecoin payments, collaborations with a renowned card management software company for issuing crypto cards and partnering with a number of top liquidity providers for institutional grade liquidity.
They plan to launch an AUD backed stablecoin by June 2021 which will help several business and merchants involved in export and import services between Australia and other countries accept crypto payments. This will also help various Australian industries take part in innovative DeFi solutions using the Australian Dollar.