Small and Medium Enterprises can relate very well to these bottlenecks, delays and utter lousy service from the legacy banking system they are forced to utilize. Even when everything went perfect, there was still a 3-4 day settlement period and high fees on both ends of the on/off-ramp.
Similar Experience With Property Sales
Catalano additionally experienced inefficiencies in the traditional banking system while selling luxury island properties for a major resort in Panama. He was amazed that clients who were buyers were run through the wringer by an end to end financial institutions that had intermediary institutions.
This stringent measure was supposed to assure the cross border transactions were compliant and liquid. These high-end buyers were forced to use three separate banks, and an attorney, to send a deposit on a property.
These high net worth individuals then had to do the process all over again for making the final balance payment.
Catalano thought there had to be a better way. Then enter the Blockchain and distributed ledger technology, and a whole new world of digital possibilities in transferring value and money almost instantly.
It occurred to him the massive potential of global demand and the adoption that will follow for digital assets and payment solutions.
Birth Of Payment Porte
It was these experiences that led to the birth of Payment Porte. It stems from the desire to provide a seamless payment process for Small and Medium Enterprises (SMEs), the Logistics and Shipping Industry.
Payment Porte has built a platform that will enable businesses to save colossal cross- border payment fees as well as time. Our Blockchain will settle payments in a near instant period.
The days where business owners dreaded paying for shipment, ordered goods and services have come to an end. It is time for business to make more money and peace of mind thanks to Payment Porte.
