top of page
money_stream.png

What is a Money Streaming (And How Could We All Use It?)

 

Lerex Technology recently announced the first financial platform in the world to support Money Streaming (see article here).

 

But what exactly is Money Streaming? And how could we use it?

 

We are all familiar with the concept of streaming; of downloading audio or video as we listen or watch. From a technical point of view, it is not much different from a traditional download except that, with streaming, the download is not stored for the long term on disk but consumed as it is being downloaded.

 

Streaming has changed aspects of our lives and forever: including the way we consume music and videos, but this innovation was only possible thanks to technology advances such as increases in internet speeds. As is often the case, technology was an enabler in changing customer habits.

 

The same type of technology innovation is now available on Lerex’s financial platform, allowing 2 parties to stream money in the same way as you stream audio or video content.

 

In essence, one of the parties initiates a stream to pull or push money at a given rate – on our platform defined in units of pounds-per-minute. After approval from the second party, that amount is then sent constantly – every millisecond – for a fractional amount of the specified pound-per-minute value.

 

Each party is in control of the stream which can be stopped at any moment, with the other party receiving a notification when that happens.

 

How can money streaming be used?

 

There are many scenarios in which consumers and suppliers could both benefit from this new way of exchanging money. Below are some examples.

 

Streaming Services

 

Content streaming is the most obvious fit for money streaming. You could pay, literally, as you watch a movie or listen to music. When your streaming starts, your money stream starts. When the user stops listening or watching, the money stream is notified and stops.

​

...

E: contact@lerextech.com
T: 020 3422 2223

​

Lerex Technology
3 Waterhouse Square
138-142 Holborn
London EC1N 2SW

Cards provided to EEA residents are issued by Transact Payments Malta Limited and cards provided to UK residents are issued by Transact Payments Limited pursuant to licences by Mastercard International. Transact Payments Malta Limited is duly authorised and regulated by the Malta Financial Services Authority as a Financial Institution under the Financial Institution Act 1994. Registration number C 91879. Transact Payments Limited is authorised and regulated by the Gibraltar Financial Services Commission.

​

Mastercard is a registered trademark and the circles design is a trademark of Mastercard International Incorporated.

​

Your Accounts are provided by Moorwand Ltd. Moorwand is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 [register reference 900709] for the issuing of electronic money. Any communications in relation to the account can be sent to Moorwand Ltd, Fora, 3 Lloyds Avenue, London, EC3N 3DS, United Kingdom. 

​

* UK Safeguarding Explanation - Whilst Electronic Money products are not covered by the Financial Services Compensation Scheme (FSCS) funds will be held in one or more segregated accounts and safeguarded in line with the Electronic Money Regulations 2011.

Ready to find your solution?

bottom of page