ST PETER PORT, Guernsey and NEW YORK, Oct. 15, 2021 (GLOBE NEWSWIRE) -- One of the core and critical requirements for any Global Clearing System to function, is the capacity to send transfers or payments via a robust transfer system, from a specifically identified person or account, to another specifically identified person or account - with an assurance of transfer completion, with security and documentary confirmation of sending, and of receipt.
This is what the legacy Telecommunications System SWIFT and entities that function on its infrastructure like the IBAN and other systems do. They do it via intermediary-heavy systems and processes first created in the 20th Century, and rely on long chains of multiple entities with multiple layers of process-replication to function.
The legacy system structures and processes have multiple issues attached to them, including:
When constructing its Global Clearing System, one of the first inner Systems that Global Telephony Provider Webtel.mobi (WM) constructed was a 21st Century-standard System for sending and receiving transfer and payments - Nationally and Internationally.
This is the TITAN System which stands for TEL.mobi Group Inter-TEL.mobi Account Number System.
It is the only Account, Account Number and Transfer System in the world that functions worldwide with no intermediaries required, and which functions according to the same structure, standards, and system.
Moreover, every person in the world that joins WM, or one of its VSMPs as a Member, is automatically assigned a unique account number. This is known as the ITAN the Inter-TEL.mobi Account Number.
The ITAN System functions in combination with the WM Members Account, the free Multicurrency Wallets given to each WM Member when they join, and all Facilities within the Members Account in the WM System including the TUV Digital Currency Payments and Transfers Facility.
Each Members ITAN Number is unique, and denotes the Region and Country where the Member signed up from. Unlike other systems, the ITAN is not the property of a Bank. It belongs to the Member directly because all WM Transactions take place on a Pure Peer-to-Peer (PP2P) basis.
Each Members unique ITAN Number is linked to the Members own Mobile Phone Number, and name, by WMs Complex Adaptive System. This is a completely unique set of data-points that cannot be replicated, and ensures all transfers / payments can, and will, always - only - go directly to the intended recipient.
Moreover, to ensure no errors arise in the transmission of ITAN Numbers from one party to another (for the first time), Members are able to use the automated texting and emailing facilities in the My ITAN Facility of their WM Accounts. When they use this, they are able to have the WM System automatically send their correct ITAN Numbers and Registered Mobile Numbers to other parties removing the risk of errors when typing these out or writing them down.
Once a transfer or payment has been made to another WM Member using the ITAN System, that persons details are automatically saved, and thereafter Members can do one-click selections of recipients for transfers or payments.
Using WMs ITAN System for payments or transfers with WMs TUV Digital Currency provides a zero-cost, instant, secure, and worldwide transfer and payments system, 24/7/365, from anywhere to anywhere, with the only requirements being a Mobile Phone (Smart or Pre-Smart). Consequently, a summary of some of the advantages for WM of using its TITAN System for payments or transfers of TUV Digital Currency include the following:
It is also the TITAN System together with free Multicurrency Accounts and zero cost TUV Digital Currency that enables the Inclusion of the 2 Billion unbanked persons worldwide into the 21st Century digital economy.
The use of WMs global TITAN System in combination with its TUV Digital Currency provides a lower cost (zero cost),more rapid (instant), more secure, and more convenient payment and transfer service to any other entity currently functioning.
It enables people to enjoy the security of their funds (Stored Credit) always being safe, that their transfers for Payment or Receipt will be instant, and that they will after the transaction have saved a great deal of money.
This was one of the founding principles of WM. To empower people to take more control of their own financial affairs, and to assist them retaining more of their own funds for themselves and their families instead of using them to cover the cost of multi-layers of nonessential intermediaries.
Nick Lambert: firstname.lastname@example.org
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Video on the Capacities of the WM System:
Details of WMs TITAN System: (see the Table of Contents)
Characteristics of WMs TUV Digital Currency:
WMs Smart TUV Digital Currency:
WMs Secured TUV Digital Currency:
Research Reports on the Capacities of the WM System:
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