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Is the u-paid-m payment system signalling the end of swipe (interchange) fees?

By: IssueWire
u paid m app

Bracknell, Berkshire Jan 31, 2022 ( - SoNiecSoNice (SN2) a UK based FINTECH announced today that it is bringing to the market after 5 years of development a novel payment system with ZERO interchange merchant fees and a FREE ML-based Loyalty Scheme combined into one. The system can be used online or through the already released u-paid-m mobile app.

The infrastructure core is based on the Stellar Blockchain and it uses AI-managed multifunctional e-wallets and intelligent Smart Contracts to automatically process domestic and cross-border complex payments.

Liquid Payments (an AI/ML-powered form of conditional and dynamic installments) and an array of DeFi tools applicable across entire Supply Chains (B2B2B2...B2C) or 2-dimensional Business Ecosystems, complemented by their proprietary 2DVVI techno-methodology are able to create location-agnostic ecosystem bubbles they coined Closed Loop Economies.

Within these the internal management of trade risk, the value-add base distribution of receivables and externally directed payments are all managed by these ML-powered Smart Contracts guided by mathematical models using a new form of hybrid security (msc1) as the medium of exchange.

The end result of these AI managed ecosystems promises economies of scale in excess of 70% and consumer prices reduction by as much as 50%, elimination of late and non-payments and credit lines, boosting of participating businesses liquidity and profitability in between other benefits.

The whole configuration allows SN2 as a sole provider to cover any company's transactional needs at all levels.

It is intended to replace services offered currently by an army of mediators from Acquiring and Issuing Banks, Card Schemes, Payment Processors, POS providers, Trade Credit Insurers, Currency Exchanges, Clearing Systems and it can co-exist with them during the transition period from the one system to other offering this way immediate savings. 

SN2 coined this new service provision a metaBank.

They intend to operate through DLT and EMI licenses and in partnership with regulated institutions around the Globe.

The Hellenium metaBank is currently in a Series A funding stage and is expected to draw interest from all market segments given the fact that it can ZERO interchange and card processing fees that skyrocketed during the pandemic reaching an eyewatering (1.81% in this > $ 2tn market or) ~ $ 360 bn! (

More information you can find at

Interesting to see how fast merchants and e-commerce platforms will embrace this ZERO interchange-fee system and start migrating away from costly legacy ones. 


For further information please contact S. Melioumis or call him at +44 7764350381


Media Contact

Sotiris Melioumis


Source :SoNiceSoNice UK Ltd

This article was originally published by IssueWire. Read the original article here.

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