Webtel.mobis Global Payment Systems Fuse Cash and Digital Capacities Creating a Functioning Cashless Society Model

NEW YORK and ST PETER PORT, Guernsey, Sept. 29, 2021 (GLOBE NEWSWIRE) -- To create its Global Clearing System a digital version of John Maynard Keyness proposed International Clearing Union Global Telephony Provider Webtel.mobi (WM) also created a Global Unitary Payment System with two Global Payment Facilities the ICLM Payments and the TUV Digital Currency Payments (also known as TUV Payments).

Both Payment Systems have all the characteristics of Cash Payments and Digital Payments combined, are globally applicable, globally available, require no specialized equipment to function, have multicurrency wallets, enable multicurrency payments with FX Conversions in-wallet, and are equally available to Banked and Unbanked persons.

One of these Payment Systems the ICLM Payments is ultra-low cost to use, and the other TUV Payments is completely free to use.

These Payment Systems not only facilitate a Cashless Society, but have also already introduced a fully operational global Cashless Society system in a benign way. It is benign because this version of a Cashless Society preserves individuals privacy, freedom, and choice.

WMs Payment Systems do not require a Central Bank issued Digital Currency or CBDC to function because WMs TUV Digital Currency itself is already the equivalent of a Global CBDC.

WMs Payment Systems - like all its other facilities are not new. They were functional and operational in 2009, but WM spent nine years testing and perfecting them and subjecting its system to multiple third-party Due Diligences worldwide to ensure compliance and robustness before rebuilding its Platform 2 to provide these Facilities in an unrestricted manner internationally.

Access to WMs services is only available to WM Members because it is a Closed-Loop Members-Only service. However, it is free and instant to join WM as a Member.

WM has one of the safest systems internationally in Security and Anti Money Laundering. WMs Payment Systems synchronize, into one product, the characteristics of Cash and Digital Money with the ease of use of Cash and the safety of Digital Money. They also have the security of a closed, monitored system and transactions ensuring robust security and Anti-Money Laundering capacities.

To load WM accounts, Members can transfer funds (Stored Credit) into their accounts using any means, and also purchase TUV Digital Currency from WM Agents (VSMPs) for cash. The system provides a Unitary and level playing field and entry into a 21^st Century Digital Economy for all people whether Banked or Unbanked. It renders even the concepts of Banked or Unbanked redundant because the only differentiator is the method used to load funds (Stored Credit) onto WM Accounts.

All funds (Stored Credit) of WM Members is held in regulated Bank Accounts, so the WM System has permanent 100% liquidity, and all Payment and Settlement Transactions are carried out simultaneously in 1/100^th of a second.

WMs ICLM Payments and TUV Payments are fully operational, and available to all WM Members on its platform. Examples of some of WMs ICLM and TUV Payments Systems characteristics in comparison to other Payment Systems in the Offline Payments role are as follow:

Once people have joined WM as Members and loaded Stored Credit onto their accounts, they can start using the ICLM Payments of TUV Payments Systems immediately to make or receive payments. The only requirement is a Smart Phone or a Pre-Smart Phone (which still comprise 50% of Mobile Phones in use) and the ITAN Number and Registered Mobile Number of the WM Member they want to pay. That is all.

ITAN Numbers (Inter-TEL.mobi Account Numbers) are the unique Account Numbers issued to all WM Members when they join, and the Registered Mobile Number is the members Mobile Phone Number.

For Merchants to notify clients they accept ICLM and TUV Payments of WMs unique Global Account Numbering system, they simply need to display this sign, and indicate they accept payment in only one currency, only some currencies or in all currencies.

As all WM Members can execute in-wallet Currency Conversions or Currency Swaps within WM, it makes no difference whether only one currency or all currencies are accepted. This is because all Members can convert before paying or after receiving payments. Examples of the Merchant notifications for accepting ICLM and TUV Payments are as follow:

WMs urls:
https://webtel.mobi/pc (Tablets / Laptops / Desktops)
https://webtel.mobi (Smart Phones)
https://webtel.mobi/wap (Pre-Smart Mobile Phones)