Stronghold builds technology that helps people have the most modern, most graceful transaction experience. The ACH system is over five times the size of the Visa payment network.
In Stronghold's video, Ryan Smith (VP of Revenue), talks about how Stronghold enables ACH payment. The link to this video you will find below.
The Following lines are Mr. Smith's words:
"To start simple, Stronghold processes payments. People seek our help when the one-size-fits-all payments, technology doesn't really quite fit their business. To get more conceptual, Stronghold creates interoperability between different systems."
"We build bridges and on ramps for financial technology. How payments actually work can be hard to follow, often with lots of layers, steps, networks that need to interact."
"At Stronghold, we design virtual payment networks that basically bring all the components together, mash with other business systems, and smooth out any problems in processing payments. What we really care about is increasing access. You'd be surprised at how many gaps and disconnects there are out there. As we've looked at different industries, we keep finding new use cases for our virtual payment networks."
"Stronghold has worked with companies of all sizes, from small shopkeepers to global blue chip corporations, to expand payment options.
One thing that makes us stand out from other payment companies, we enable retail ACH payments."
"Over the past decade, there have been some great progress in payment technology, but most of it is focused on the card networks. You could say the ACH system is the largest payment network you've never heard of. It's how direct deposit paychecks and automatic utility payments happen. It's the largest network by volume in the United States and growing in use, but still fairly rare for retail purchases."
"For context, the ACH system is over five times the size of the Visa payment network."
"So when we say we build on ramps, what that might look like is a retail business accepting a delivery order that the customer pays for directly from their bank account with their phone. When the pandemic lock down started, there was a surge in demand for the most modern touchless payments and we were ready to help a lot of businesses catch up in payments. In Fintech, there's often this excitement about the shiny new innovation and we love that too."
"Stronghold Net, our overall ecosystem incorporates blockchain technology with $SHX, the token that we use in our rewards program. But the push forward into the future sometimes leaves the old financial rails behind. We make sure to connect it all when we talk about building bridges."
Watch the video here:
https://www.youtube.com/watch?v=ZivdnbcZbLo
