UK Money E-License Helps Ziglu Launch Peer-to-Peer

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Ziglu (Courtesy: Twitter)
Ziglu (Courtesy: Twitter)

Ziglu launched its peer-to-peer (P2P) payments service for both fiat and cryptocurrency on September 7. This comes as a result of the United Kingdom challenger bank obtaining e-license.

“Sending and receiving money doesn’t have to be complicated. In fact, simplicity lies at the heart of our peer-to-peer (P2P) mobile exchange technology, which allows Ziglu customers to make fast and easy money transfers. Through our super-intuitive app, users can exchange fiat (GBP) up to £10,000 per transaction, per day,” Ziglu said in its blog.

“Paying people should be easy! Ziglu can make splitting the bill with friends or sending flatmates your share of the rent – paying quick and simple. No more copying and pasting personal data, exchanging account numbers and sort codes and inputting them into a third-party app (hoping you don’t make a mistake).

But sending and receiving money doesn’t have to be complicated. In fact, simplicity lies at the heart of our peer-to-peer (P2P) mobile exchange technology, which allows Ziglu customers to make fast and easy money transfers. Through our super-intuitive app, users can exchange fiat (GBP) up to £10,000 per transaction, per day.

It’s free, secure and lightning-fast.

When you enable us to access your mobile device contacts for making payments to contacts/friends, we do not send information from your contact book to our servers and do not save it. Instead we employ the following process involving “hashing” to keep personal data hidden:

Your device generates a hash of the phone numbers for each of your contacts (a “hash” is a cryptographically secure representation)
It then uploads the hashes to our contact checking service
This service checks (using the hashes) to see if the phone numbers of your contacts match the numbers of any Ziglu users and tells the app which ones qualify
The app then matches these hashes with the numbers in your mobile device’s contacts list and displays the relevant Ziglu users in the app for payments to contacts/friends
Of course, we’ll only match your contacts with Ziglu users who are discoverable for payments to contacts/friends, which can be easily turned off in Settings.

And….

Because we believe traditional and digital currency are equals we’ll be adding more currencies later including crypto in the year and allowing a greater range of digital assets to be moved and exchanged freely,” the blog added.