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AML-Compliant Bitcoin Cashier System Wins Constantinus Award

Payment21® receives the prestigious Constantinus Award. With the branded Bitcoin Cashier System developed by Swiss Moving Media GmbH along with Austrian RISE GmbH, e-commerce merchants, regulators, banks, and consumers can rest assured in terms of AML-compliance for crypto currency.

Payment21®, a global provider of AML-compliant Bitcoin payments, has been honored at the 2016 Constantinus Awards, winning the award for ‘Best International Project. The panel of judges selected Payment21® along with RISE, its IT-advisor and engineering provider, from the pool of nominees. A total of 152 projects were evaluated by an 80-person jury. During an exclusive dinner gala, the winners were celebrated together with their customers. More than 700 guests attended the ceremony of the industry-specific “Oscars" for the Austrian IT and consulting sector at the Design Center in Linz. The renowned Constantinus Awards were handed out for the fourteenth time to the best IT and consulting projects in Austria.

Industry Leading Product Innovation

Payment21® won in the international projects category for its Bitcoin Cashier System designed to support AML-compliant cross-border transactions around the globe. The award recognizes Payment21® as an industry leading product innovation. RISE GmbH shouldered the responsibility for engineering backend software components, the e-commerce cashier application, and its exchange service including the technology stack and the IT-architecture. Jury members from corporate business and the media found the project both novel and compelling.

High-quality Standards Combined With Extraordinary Security

The teams at both RISE and Payment21® have collaborated intensively for a period of 8 months to develop the first release of an AML-compliant Bitcoin Cashier system based on superior IT-security and state-of-the-art payments technology to effortlessly support collection and exchange services throughout global markets. Backed by its proprietary payment gateway that links consumers and businesses directly with payment schemes, exchanges and banks, Payment21® offers user-friendly interfaces for e-commerce and mobile usage, along with safety-related products to drive market adoption.

“Providing AML-compliant transactions is a must for Bitcoin,” noted Bernhard Kaufmann, the director of Moving Media GmbH, which owns the Payment21® brand. He went on to say, “As a Swiss-based financial intermediary, we are bound to provide high-quality services combined with extraordinary security. We chose to work with an Austrian IT-Consulting company rather than selecting a Swiss-based R&D-provider because of the excellent quality standards and the world-leading IT-security awareness provided by RISE.”

Working with Payment21® allowed RISE to contribute to the ongoing technical paradigm shift taking place in the financial industry. Since 2009, innovators in the FinTech sector have introduced block chain technology that advances the evolution from e-money to digital money, also known as crypto currency.

Unique Approach

Requesting a banking software provider such as RISE to build a Bitcoin gateway appears to be a unique approach. Typically, Bitcoin companies hover around the Silicon Valley-style start-up community. In the case of Payment21® and RISE, two well-established firms accepted the challenge to build a gateway for merchants with specific regulatory requirements that meet the needs of regulators, banks, and customers. Accepting AML-compliant Bitcoin transactions is nearly impossible for regulated businesses today because processors do not have the required know-how or the necessary technologies in place. The ability of Payment21® to deliver a secure processing solution based on AML-compliant Bitcoin technology is reinforced by its recognition at the Constantinus Awards.

Moving Media is the owner of the Payment21® brand and a registered financial intermediary providing AML-compliant crypto currency transactions. The company’s Bitcoin Cashier System provides payment processing services to e-commerce platforms around the globe. Payment21® service offerings are focused on regulated businesses who need effective compliance procedures. The target group includes publicly-listed e-commerce merchants, licensed gaming enterprises, audited charities, and concessionary wireless network providers. The company is headquartered in Switzerland.