There was a time when we wanted smooth payments to function in the business world. While now when we have the option of smooth payments, it has become a growing concern. In the day to day lives, at times it becomes difficult to process secured transactions. Banks rely on servers which have made people used to a certain waiting time. For instance, during weekends, no transactions are confirmed in most of the banks. It makes people wait for up to 3 or 4 working days. To get rid of this problem, an Austrian financial service provider will give rise to the new economy. It is believed that a fresh company will be opening an institution that reduces the waiting time for transactions and also increases security.
The rumor mills suggest that with this move, the financial system will be revolutionized in terms of internal infrastructure. It is said that the financial system will be technologically advanced and will be one of its kind. The sources strongly suggest that the Austrian entrepreneur Benjamin Herzog will be the CEO of the new transaction service provider which already has its presence in many global companies. With all the inside information we have so far, the new financial infrastructure will be made available soon which will process transactions internally and in real-time.
Other benefits for the members using this financial infrastructure would be that they can send money securely and instantly without waiting for days. Moreover, they can also exchange money in different currencies. The entrepreneur has earlier made his investments in many companies including Avintex GmbH which is the second-largest cloud mining provider in Austria, Viva Payment Solutions, and PhoneX Pay (Transfera). In 2019, he even founded EXW Wallet. If the news about the transaction service provider turns out to be true, it will revolutionalize the financial market. With such an innovation, we are excited about this new venture of Herzog which will set the bar for all the international payments.
