First CBDC Platform that can power an entire economy

First CBDC Platform that can power an entire economy

By Chriss | Crypto Addict | 11 Oct 2020

*CBDC - Central Bank for Digital Currency

National Payment Platform (NPP) is a framework facilitating the completion of all of a country's digital currency transactions. It consists of institutions, the technological infrastructure, operations, and conventions that underpin financial engagement. A well thought out and implemented NPP guarantees the integrity and efficiency of payment systems.

An adequately structured NPP has The Central Bank at its core. In that setup, The Central Bank exercises regulatory authority over all the players in the payment space. Again, to function adequately, it requires a robust technological infrastructure. Here is where Apollo Fintech comes in. The firm stands a cut above the rest in offering fintech solutions. Its NPP is leaden with superior features and functions that boost inclusivity in the payments market.


Salient Features Of Apollo NPP

Apollo's NPP is the only blockchain-based cashless system enabling central banks to issue sovereign digital currencies. Following this issuance, The Central Bank then uses this platform to add commercial banks and agents. In turn, these get citizens and merchants on board, allowing transactions to take place. Used in collaboration with other Apollo products, it promises to revolutionize the payments market.

Here are a few of its standout features:

  • It has countrywide reach through a network of banks and government-approved agents
  • One can carry out transactions via SMS, including making payments and checking account data
  • It has online sign-up capabilities
  • International remittances are enabled
  • Integrates with other Apollo products such as Apollo National Currency System, Apollo Bank Network, and Apollo Cash
  • Frictionless payments
  • It allows the use of bank cards to top-up accounts or withdraw funds
  • The database has zero downtime


Attaining Financial Inclusivity Through Apollo's NPP

Apollo's NPP will achieve financial inclusivity in the following ways.


  • Making The Central Bank Central To Its Implementation

The Apollo Payment Platform recognizes the centrality of Central Banks in organizing financial aspects of an economy. Making Central Banks fundamental players in the platform's deployment inspires confidence in the consumers of financial services. Their experience in money management, coupled with backing from the government, assures users of the security of their money compared to alternative currencies privately issued. Consequently, most people will readily sign up to the system rather than risk it with private currencies whose security is debatable.

  • Guaranteeing Countrywide Coverage

The NPP coverage traverses the whole country. Financial services will be accessible to all through either government-approved agents or banks, spanning the country's length and breadth. In this way, even the most detached of places get service. The net effect is that a significant portion of the population that previously lacked access gets inclusion in the financial system.

  • Providing Easy Sign-ups

Another way through which the NPP will increase inclusivity is by allowing ease of sign-up. Individuals and entities can sign-up online. They do not have to present themselves physically to the banks or agents of financial institutions to sign-up to the platform. This function is of considerable significance to inhabitants of far-flung areas that often suffer exclusion due to minimal investments.

  • Leveraging Blockchain

Blockchain eliminates intermediaries from transactions. As a result of this, direct transactions between peers are possible. Intermediaries are often unnecessary additions to the process of exchange. Since all transactions terminate through them, they affect the pace and cost of each one of them. Eliminating them, therefore, encourages engagements between parties to an exchange.

  • Mobile Accessibility

Tapping into the power of mobile telephony, the NPP will reach many without access to banking and financial services. The beauty of it all is that one doesn't require a smartphone. With the simplest of feature phones, one can transact via SMS, paying for goods and services, depositing and withdrawing funds from their accounts, and transferring them to others. Thus, the system caters for even the lower economic segments of the population.

  • Convenient Top-ups

Individuals have convenient ways of topping up their accounts. They can do this through top-up cards that they can purchase from authorized retailers across the country.

  • Traversing Borders

Through the incorporation of Apollo Bank Network, the NPP will enable seamless cross-border payments. This feature allows international person to person and bank to bank settlements in a record time of two seconds. This innovation defies space and time. Hence it brings together people who would otherwise have limited interactions resulting from their borders.

  • Lowering Costs of Transaction

Leveraging blockchain functionality lowers the cost of carrying out transactions. As stated earlier, the blockchain eliminates the need for third parties to transactions. These require payment of fees for their facilitating exchanges. At times, the fees they levy price out individuals and entities that would otherwise be willing to, from engaging in the market.

  • Integrating with Apollo Cash

Apollo Cash is the alternative to traditional payment solutions. It removes the two challenges associated with fiat deposits; accessibility and usage. One need not have an app or internet connectivity to enjoy its use. A simple SMS or NFC card suffices.

  • Incorporation Of Apollo National Currency System

The National Currency System aims at replacing the physical bills with digital currency. Physical bills are costly to develop and maintain—additionally, fluctuations in their supply impact their accessibility. Replacing them with Central Bank Digital Currencies expands access to payment systems.



All nations require grounded systems of payments as they help sanitize the field of payments. Apollo Fintech is a market leader in the development of innovative financial solutions. Its NPP allows Central Banks to rejig the payments sector. Boasting such features as online sign-up, countrywide coverage, and the ability to integrate other Apollo products offers immense possibilities of expanding the financial reach of the masses.



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