Gloneta is a payment network and a mobile application that allows to send the money instantly between users with zero or very low costs in the familiar interface of a mobile chat application. The app was developed by Luxembourg-based company, SnapSwap International S.A., an Electronic Money Institution authorized by the Ministry of Finance of the Grand Duchy of Luxemburg to issue electronic money instruments and provide payment services. SnapSwap is the first financial institution in Europe that was licensed to offer payment services on blockchain technology. SnapSwap soon followed by developing its first application "Gloneta". This application has a familiar layout to the likes of Whatsapp and Facebook Messenger while embedding the functionality to transfer money between its users or store the money via the in-app wallet.
Video Gloneta (Mobile Application)
Licences
- SnapSwap is an authorised Electronic Money Payment Institution in Luxembourg. Its licence was issued by the Ministry of Finance of the Grand Duchy of Luxembourg on August 2016 according to the Law of November 2009 on law about payment services.
- SnapSwap is supervised by the CSSF.
- Snapswap is a participant of SEPA with Bank Identification Code - SSWILUL1.
- SnapSwap has been granted the privilege to use the "Made in Luxembourg" label due to their headquarters being located in Luxembourg and the development of the intellectual property is occurring in Luxembourg
Maps Gloneta (Mobile Application)
Partnerships
- SnapSwap is partnered with Worldline to service their payment processing needs. Worldline is one of the biggest payment processors in Europe.
- SnapSwap is partnered with LuxFutureLab, a Luxembourg-based incubator for start-ups sponsored by BGL BNP Paribas bank. They provide SnapSwap with access to the bank's experts in various fields of financial services.
- SnapSwap is partnered with the EYnovation program of Ernst & Young that is established to support selected startups through early stage of development to help achieve sustainable growth. .
- SnapSwap is partnered with FBStart , a Facebook Startup incubator which is helping Gloneta develop by providing the access to Facebook product experts and assists with financial support.
- SnapSwap is partnered with LuxTrust, who has made it possible for any of their users to be verified in the Gloneta Application using LuxTrust identification methods.
Notable Contributors
- Georges Schmit. A former consul of Luxembourg stationed in San Francisco and Director of the Ministry of Economy in Luxembourg
- Paul Helminger. A former mayor of Luxembourg
Services
Gloneta provides the following functionalities via its mobile app:
- Online bank accounts (Gloneta IBAN)
- Possibility to transfer money from a customer's bank to their own Gloneta IBAN or by linking a credit card
- Foreign exchange between three different currencies : US dollars, GB pounds, and Euros
- Peer-to-peer payments to other users
- Money request
- Nicknames
- Direct transactions from a customer's credit card
- No registration fees.
- Currencies are converted at the best FX rates.
References
Source of article : Wikipedia
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