BiiLabs introduces blockchain-based payments, for supporting digital currencies - The EE

BiiLabs introduces blockchain-based payments, for supporting digital currencies

Lman Chu of BiiLabs

CES 2021 – BiiLabs, a Taiwan-based startup, is using blockchain technologies to develop BlaPay, a novel solution for merchants to lower transaction fees, aggregate all payment services and ensure financial authorities to monitor without leaking trade secrets.

Although one of the major bottlenecks for blockchain is to comply with the regulations, BlaPay can easily meet the requirements by introducing centralised account management. With globally-accessible blockchain networks, BlaPay is becoming a potential option for enterprises.

“Everyday more than 1 billion credit card transactions occur all over the world and the existing issues include delayed payment for merchants, multiple but incompatible payment gateways and high transaction costs,” says Lman Chu, BiiLabs CEO. “We learn from our clients and previous projects to adopt a two-layer design to our payment solution and strike a balance between user privacy and regulating.”

BlaPay indicates “Be a Lean and Accessible Payment” and is particularly designed for the future digital currency era. Our payment system offers merchants:

  1. Payment Aggregation: Support ApplePay, GooglePay Credit Card, QRCode
  2. Instant Settlement: Speed up receiving efficiency
  3. Global DLT Infrastructure: Lower operating costs and enable public auditability
  4. Loyalty Point Exchange: Realise network effects with incentives
  5. Tiny Transaction Fees: Remove Middlemen from the Payment Chain
  6. Digital Currency Ready Solution: Support digital currencies such as crypto and central bank digital currencies (CBDCs)

BiiLabs is offering the blockchain-based payment system for merchants to shorten the processing period and enhance the turnover rate for scalability because of our instant settlement services. Besides, BlaPay helps our clients aggregate all payment options with reasonable charges. On the other hand, we also support digital currency payment and give incentives to the customers with loyalty point programs to complete the ecosystem.

BlaPay for mobility combines crowdfunding and token ecosystem

Currently, BiiLabs is working with a charging pile provider to launch an innovative mobility solution using BlaPay. Our client aims to build one million charging stations for electric bikes in three years so BiiLabs provides a two-layer infrastructure. The first layer is investing tokens which enable crowdfunding for one single charging station, while the second layer is utility tokens for users to pay a charging fee. Also, the investing tokens can be transformed into utility tokens with attractive discounts.

In this case, BiiLabs successfully combines crowdfunding and the token economy and helps our client retake their users from other third-party payment companies because they’ve built up their own payment services. Soon our clients will have a deeper engagement with their users by data analysis and precision marketing.

BiiLabs believes, “We start from but never limit to the mobility field. BiiLabs will participate in mobility, energy and even smart cities with the BlaPay solution in the near future!”

First step to Japan market using blockchain technology

In fact, this hope is not only a dream. Since October, BiiLabs has collaborated with NashTech to facilitate the adoption of blockchain in Japan. NashTech has a huge client base and more than 2 thousand engineers in Vietnam to serve Japanese customers. This partnership will definitely bring big value to the customers.

“We are greatly honored to have NashTech to provide IT services in Japan,” says Lman. “NashTech will promote BiiLabs products to the Japanese corporations adequately. We are expecting that this partnership can help accelerate the digital transformation in Japan, with the introduction of blockchain,” Lman continued.

BiiLabs is dedicated to developing blockchain technology, communicating and cooperating with partners to discover essential needs. We will keep assisting the market on dividends and achieving digital transformation to create new digital value for the future of the Internet of Things.

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