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Congratulations to the finalists of the 2017 BAI Global Innovation Awards for Innovation in Payments & Wallets.

These finalists have improved an existing payments platform, solution or wallet or introduced a new payments platform, ecosystem, solution or wallet. Finalists listed in alphabetical order include:

B2B Pay

Virtual bank accounts for companies that export into Europe

The world is getting smaller, though this isn’t always apparent when looking at the modern banking system. SMEs that export lose a lot of money and time. B2B Pay provides SMEs that export to Europe with a virtual bank account using a unique IBAN. They can collect payments from 35 European countries and save up to 80% in foreign exchange rates and international transfers. For additional fees, they can also unlock the ability to make SEPA transfers or global payments, purchase credit insurance or invoicing. B2B Pay’s goal is to make global banking local by connecting the various banking systems’ infrastructure. On top of this, they are building an IBAN directly on the blockchain to completely replace IBANs and SWIFT.

Standard Bank Group Limited – Slydepay

Slydepay – Ghana’s leading online payment application

Slydepay is a disruptive mobile and web payment service which aggregates multiple electronic payment rails and enables seamless merchant, person- to- person and business- to- business payments. The app has been developed both for individuals and businesses, and allows businesses to have access to an API that they can configure on their own applications or websites. Other unique features include the ability to monitor spending habits through the “Money Story” feature, set up recurring payments (add to favorites) and purchase Bitcoin and Perfect Money. Slydepay is bank agnostic and available to all users irrespective of their bank.

Transaction Analysts (India) Pvt. Ltd

Fintech Cashless eWallet Solution for Financial Inclusion built on the India Stack (Aadhaar Biometric Identification)

The TA Cashless eWallet solution empowers the financially underserved by enabling access to ultra-low cost payment transactions, particularly in rural areas that lack financial infrastructure and Internet access. TA eWallet is fully integrated into the ‘India Stack’ enabling Aadhaar biometric authentication of secure, real-time payments for users with smart phones, feature phones or no phones at all. Even the most challenged users can rely on its technology as it boasts a local network of ‘TA Digital Partners’ who act as human ATMs in a ‘Do-it-for-Me’ (DIFM) model similar to a business correspondent (BC).These individuals, who are trusted local entrepreneurs, act as DIFM agents and make incremental income by providing ‘Digital India’ cashless value-added services. This solution can be replicated anywhere in the world for the masses.