SUIC QQPay USA Inc., an emerging fintech company based in New York, is all set for the big launch of QQCredits. It is the new credit system similar to the way crypto currencies are currently being used.
QQPay will be a digital medium for online financial transactions through blockchain technology.
SUIC QQPay USA Inc. has been proactively working on creating a technology-driven financial payment system that could expedite the entire payment process. QQPay is an initiative towards that direction.
SUIC is located across the globe in the US, Malaysia, Singapore, and Australia. Through its partner, QQ Pay Pty Ltd. Australia, it wants to reach the rural parts of countries for greater financial inclusion.
Through blockchain, SUIC QQPay USA Inc. wants to make the concept of global financial inclusion a reality for the peer-to-peer payment process with utmost secrecy and speed.
The platform will also prohibit any money laundering attempts across the borders. The company will offer QQ Credits payment facility only to people who already have a bank account.
Comparison Between Blockchain and BTC
- BTC (Bitcoins) are cryptocurrency while Blockchain is the technology that facilitates cryptocurrency-enabled transactions online.
- Blockchain is responsible for the speed, security, and privacy of all such transactions while Bitcoin is only a form of cryptocurrency.
- Bitcoin is dependent upon Blockchain for all BTC-based transactions but not vice versa.
- Blockchain technology is also enabled in banking and other financial sectors, but BTC still works in anonymity.
- BTC is used as a measure to complete payment while blockchain is the technology that facilitates such transactions.
An Introduction to QQ Credits
QQ Credit will be a viable alternative to other cryptocurrencies that crypto enthusiasts have been trading and investing in for the last few years.
QQ Pay Pty Ltd has its collaboration with SUIC, which provides cutting-edge technology and services like IoT, Big Data, Blockchain, AI, and research data to ensure that QQ Credits succeed as a viable cryptocurrency.
- Anyone can start using QQ Credit without the need to own a digital wallet.
- QQ credits and Fiat money can be stored in a bank.
- Free convertibility of QQ Credit into legal tender.
- QQ Credits can be stored in any other global currency.
- Get secured payment through mobile app only.
- No need to pay any monthly charge.
- Only a 0.2% fee will be deducted per transaction.
QQ Credits will bring the excluded section of the society to the forefront. It will offer a real-time settlement, full and secured end-to-end transparency of the payment process, and instant confirmation of the same.
People who receive and pay online don’t touch the money. With the ever-increasing digitization of the payment system, there’s a constant need for the circulation of BTC and other crypto coins in the market.
Many tech-savvy people and crypto enthusiasts find it easier to complete their transactions online through blockchain technology.
The latest data suggest that the total market value of IT and ITES goes more than 450-billion at a CAGR of 70%+.
QQ Credits, through its mobile app, will walk one step ahead facilitating cross-border financial transactions and playing a key role in translating the concept of financial inclusion into a reality by bringing the rural populace to the forefront of banking and blockchain-enabled financial system.