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The European PSD2 framework, growing pressure on big techs financial ambitions, and central bank digital currency (CBDC) discussions all indicate a looming regulatory crackdown. Digital wallet providers must: Implement robust encryption and tokenisation to protect card details and transaction data.
WollettePay is positioned as a response to longstanding limitations in current Open Banking solutions, many of which require multi-step processes and do not consistently deliver on speed or user experience. The platform is scheduled for release in the UK in the fourth quarter of 2025, with a wider European rollout expected in early 2026.
If you have noticed the chip that is on the card to provide encryption of all transactions and payments, when we moved into mobile devices like Apple Pay or Google Pay, we used the chips in your phone to offer similar encryption capabilities. I think that is another great example where we do over 150 currencies on the network today.
Lastly, the best digital banks may cater to global users by offering cross-border capabilities, supporting international transactions and multi-currency accounts. They may have to adhere to strict cybersecurity measures, including data encryption and multi-factor authentication, to ensure user security.
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