FORT MYERS, FL, Oct. 31, 2023 (GLOBE NEWSWIRE) — TessPay Inc., (the “Company” or “TessPay”), developer of a fintech platform for securing and streamlining financial transactions that utilizes blockchain technology to provide payment assurance and liquidity through a finance supply chain (the “Platform”), today provided additional visibility into its Platform featuring newly released capabilities to its payment solutions for the telecom industry.
Finely tuned to the unique requirements of smaller telecom carriers, TessPay’s innovative Platform is designed to reduce time-to-collections while also leveraging blockchain technology and smart contracts to redefine transactional security, transparency, and efficiency.
TessPay’s core mission revolves around empowering smaller carriers in the wholesale telecom sector. By simplifying access to capital and streamlining operational processes, TessPay paves the way for growth and operational stability. The Company envisions expanding to other types of supply chains, embedding transparency, security, and efficient capital access across a diverse range of industries.
Jeff Mason, CEO of TessPay, emphasizes, “We believe that our sophisticated blockchain infrastructure offers an unparalleled opportunity for businesses and industries to adopt our Platform with the confidence that their transactions are not only secure but also accurate. The wholesale telecom industry remains a high growth focus given the demand for better automated settlement payment solutions. As we advance both the Platform and our smart contract capabilities, our carriers can rest assured that TessPay remains dedicated to prioritizing their best interests and optimizing their payment operations.”
Unique features of TessPay’s Platform include:
Unprecedented Transactional Security
With private permissioned blockchain, TessPay’s Platform has been designed to elevate transactional transparency to new heights. Each transaction is securely recorded, ensuring a more trustworthy payment landscape where inappropriate alterations are virtually impossible.
Robust Data Protection
To TessPay, data security is paramount. TessPay goes to great lengths to fortify carriers’ information, utilizing advanced cryptography and consensus mechanisms. Through the elimination of middlemen using smart contracts, the Platform helps to mitigate the risk of fraud.
Amplified Operational Efficiency
Manual processes often lead to inefficiencies and errors. TessPay’s Platform, empowered by smart contracts, automates these procedures, significantly reducing operational time and costs. The result is enhanced business agility and profitability, and streamlined operations.
Real-Time Data Analytics
In today’s data-driven world, timely and accurate insights can make all the difference to a business. TessPay offers instantaneous analytics and reporting, granting telecom carriers a panoramic view of their financing and supply chain operations. This empowers them to strategize and decide courses of action based on real, actionable business insights.
Customizable Financing Solutions
Every business is unique, with distinct challenges and opportunities. Recognizing this, TessPay provides flexible financing solutions, molded to fit each individual business’ requirements and preferences.
TessPay is an innovative fintech firm that has been focused on disrupting the payment landscape since its inception in 2017. The Company’s Platform, utilizes blockchain technology to provide payment assurance and liquidity through a supply chain. The Platform makes use of smart contracts, as programmatic representations of the terms of a legal contract between the supply chain parties, to affect automated settlements (account balance computations) to supply chain participants. The Platform is intended to offer security to permit lender funding, increased payment confidence, fraud mitigation and transparency throughout each step of every supply chain finance transaction for wholesale telecom carriers and for telecom companies acting as providers in the Federal Communications Commission’s Affordable Connectivity Program (“ACP”). In major commercial construction projects, the Platform deploys smart contracts to connect funders, developers, and general contractors through to subcontractors and suppliers. Through the use of the smart contracts, the executable elements of each contract are tracked through the Platform and assembled in a structure that permits the system to ensure that only contracted amounts can be approved, and paid, without error or duplication. As a testament to our commitment to innovation, transparency, and security in the fintech world, our mantra is simple: Choose TessPay, Choose Growth.
Statements in this press release about future expectations, plans, and prospects, as well as any other statements regarding matters that are not historical facts, may constitute “forward-looking statements.” Words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would” or similar terms, variations of such terms or the negative of such terms are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Although the TessPay believes that the expectations reflected in the forward-looking statements are reasonable, TessPay cannot guarantee such outcomes. TessPay may not realize its expectations, and its beliefs may not prove correct. Actual results may differ materially from those indicated by these forward-looking statements as a result of various important factors, including, without limitation, market conditions. All such statements speak only as of the date made. Consequently, forward-looking statements should be regarded solely as TessPay’s current plans, estimates, and beliefs. Investors should not place undue reliance on forward-looking statements. TessPay cannot guarantee future results, events, levels of activity, performance or achievements. TessPay does not undertake and specifically declines any obligation to update, republish, or revise any forward-looking statements to reflect new information, future events or circumstances or to reflect the occurrences of unanticipated events, except as may be required by applicable law.